ADP Brokerage Services Group Announces Strategic Alliance with Xtiva to Enhance ADP's Product Offering.Business Editors JERSEY CITY, N.J.--(BUSINESS WIRE)--June 18, 2001 ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. Brokerage Services Group (ADP), a division of Automatic Data Processing Same as data processing. , Inc. (NYSE NYSE See: New York Stock Exchange :ADP), announced today that it has signed a strategic alliance with Xtiva Financial Systems to sell and market Xtiva's commission and compliance reporting and management products to ADP brokerage clients and the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. marketplace. As part of the agreement, ADP is making a minority investment and receiving a seat on the Xtiva board. This new alliance will provide ADP clients with state-of-the-art commission and compliance software that will interface directly with ADP's transaction processing systems. In addition, ADP will host Xtiva's applications in its state-of-the-art data center in Jersey City, New Jersey. "We are extremely pleased to announce this strategic alliance," said John Hogan John Hogan is the name of more than one notable man:
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to make our clients more competitive in the marketplace. Xtiva's products enhance the value that our brokerage clients bring to their registered representatives enabling them to spend more time gathering assets and generating business, while simultaneously delivering operating efficiencies to the firm." The Xtiva product line enables financial services companies to significantly automate and streamline calculating and paying sales compensation for registered representatives while offering point-and-click control for configuring the most complex payment arrangements. Additionally, the Xtiva payment engine will interface with ADP's payroll system for automatic payment to sales personnel. "The fact that ADP, an industry leader, has made this investment in our firm shows their belief in our products, our employees and our ability to deliver world class software applications," said William Lieberman and James Iacabucci, Co-Chief Executive Officers of Xtiva. "With ADP's resources, this alliance gives Xtiva the ability to further enhance its product line, market penetration and quality of service to its broker/dealer clients throughout the U.S. We are all looking forward to building our ASP model and rapidly growing our client base with ADP." 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 Financial intermediaries institution that provide the market function of matching borrowers and lenders or traders. advanced, integrated systems for securities processing, desktop productivity and investor communication services, all focused on providing unique solutions for straight through processing In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages. and World Class Service. ADP continually uses technological advancements to develop innovative products that meet the long-term business needs of its clients. As a leading outsourcing vendor, ADP is leveraging its position to provide competitive, cost-effective services to its clients worldwide. With over $6 billion in annual revenues and more than 500,000 clients, ADP is one of the largest independent computing services firms in the world. For more information about ADP Brokerage Services Group, please visit our web site at www.bsg.adp.com and for other ADP services and investor information, please visit www.adp.com. About Xtiva Financial Systems Xtiva Financial Systems is a leading provider of software applications for the brokerage industry. Founded in 1998, Xtiva has developed state-of-the-art technologies that enable retail and institutional broker/dealers to streamline their operations, from sales compensation and production reporting to supervision of rep licensing and compliance issues. Xtiva has developed alliances with leading clearing firms and industry participants, including Bear Stearns, Fleet's U.S. Clearing unit, Fidelity Institutional Brokerage Group, UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System PaineWebber's Correspondent Services Corp. and The Depository Trust & Clearing Corporation (DTCC DTCC See: Depository Trust and Clearing Corporation ). Xtiva's clients include: AmSouth Investment Services, ING Barings (Furman Selz), Robertson Stephens, Thomas Weisel Partners Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG), often shortened to just TWP or TWeisel, is a U.S. middle-market and growth focused investment banking firm based in San Francisco, California. , Walnut Street Securities and Wit/Soundview. For more information about Xtiva, please visit our web site at www.xtiva.com. |
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