First American Capital and Trading Corporation Signs Agreement With ADP Clearing for Brokerage Clearing Services
NEW YORK, New York -- August 14, 2006 -- ADP Clearing & Outsourcing Services, Inc., a division of Automatic Data Processing, Inc. (NYSE: ADP), announced today that it has been selected by First American Capital and Trading Corporation (First American) to clear its fully disclosed business. First American signed a multi-year contract with ADP for its clearing and settlement services, both domestically and internationally.
First American caters specifically to financial institutions and other Member broker dealers. By leveraging ADP Clearing’s innovative technology solutions, First American can offer even more comprehensive and customized business solutions for each of their clients’ specific business needs worldwide. In addition, ADP’s advisor desktop solution, ProVisor®, will enable First American to expand their business in the Registered Investment Advisor market, particularly in its local Florida market. ProVisor’s state-of-the-art technology allows investment advisors access to critical portfolio information, including real-time tax lot updates and contact management capabilities, coupled with automated online order entry and real-time market data.
“ADP Clearing’s broad product suite will help us continue to offer our customers unique solutions to fit their business requirements while keeping our costs under control. ProVisor gives our investment advisors the ability to increase productivity and grow revenues,” said Scott Hudson, Chief Operating Officer, First American Capital and Trading Corporation.
“We are proud that First American Capital selected us to be their clearing provider,” commented Joe Barra, President, ADP Clearing. “Our comprehensive product line will help First American Capital and Trading Corporation provide the highest level of service necessary to meet the business goals of their exclusive customer base.”
About ADP Brokerage Services Group
As the premier provider of transaction services to the financial industry, ADP has the capacity and technological expertise to assist its clients in differentiating themselves in the marketplace. ADP brings to financial intermediaries advanced, integrated systems for securities processing, desktop productivity and investor communication services, all focused on providing solutions for straight through processing and World Class Service.
ADP, with $8.0 billion in revenues and more than 600,000 clients worldwide, is one of the largest providers of a broad range of premier, mission-critical, cost-effective transaction processing and information-based business solutions. For more information about ADP Brokerage Services Group, please visit www.bsg.adp.com and for other ADP services and investor information, please visit www.adp.com.
About First American Capital and Trading Corporation
First American Capital and Trading Corp. is an NASD registered broker/dealer that caters to other financial institutions, NASD member broker/dealers and investment advisors. First American offers competitive wholesale commission rates coupled with “turn-key” trading and execution solutions customized for each clients’ specific business needs.
For more information about First American Capital and Trading Corporation, please visit www.factc.com or contact Mr. Scott Hudson, COO/CCO, directly at (561) 948-7477.
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