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PERSHING INTRODUCES NEW PRODUCTS AND NEW STATEMENT AT CONFERENCE

PERSHING INTRODUCES NEW PRODUCTS AND NEW STATEMENT AT CONFERENCE
 JERSEY CITY, N.J., May 1 /PRNewswire/ -- The Pershing Division of Donaldson, Lufkin & Jenrette Securities Corporation announced two new products and unveiled a new client statement which can be customized by individual correspondent brokerage firms. The announcement was made today at Pershing's western regional conference for correspondents held in Ojai, Calif.
 The two new products to be introduced by Pershing are ProCash Plus, which is an asset management account that combines brokerage and checking features with a debit card, and BrokerView Direct, a computerized communications system which allows individual registered representatives at remote locations direct access to information about the customer accounts they maintain at Pershing.
 Expected to be the highlight of the conference is Pershing's new statement format, Pershing Select, a first for the financial services industry. This new monthly customer statement can be customized in almost limitless variations by Pershing's correspondent brokerage firms. They can select among numerous options to design a statement for an individual customer, for a single branch or for a registered representative with special needs. For example, a Pershing correspondent brokerage firm can choose any order of appearance for the various sections of the statement; they can choose whether to include sections on pending trades and income, consolidated money fund holdings, dividend or interest summaries, retirement account distributions and contributions, and many other categories. In addition, transactions can be presented in chronological sequence or by activity category and a customer's fixed-income holdings can be listed alphabetically or according to maturity date. Choices can be specific to an office, to a registered representative or to an individual customer account. Individual investors will receive the new statement in January 1993.
 According to Alton Jones, managing director of Pershing, "Pershing Select is a revolutionary idea in the financial services industry. To date no other securities firm can offer clients such flexibility or convenience. Pershing Select has been in development for more than a year and is another example of how Pershing's ongoing commitment to new technology and dedication to customer service are combined to produce new products."
 Pershing, the nation's largest provider of correspondent brokerage services, is a division of Donaldson, Lufkin & Jenrette Securities Corporation. Pershing executes and clears equity, fixed income, mutual funds and option trades for more than 650 independent brokerage firms and provides account administration, management information and investment related services to the securities industry.
 -0- 5/1/92
 /CONTACT: Alton Jones of Pershing, 201-413-3343, or Cathy Conroy of Donaldson, Lufkin & Jenrette Securities, 212-504-3275/ CO: Donaldson, Lufkin & Jenrette Securities Corp. ST: New Jersey IN: FIN SU: PDT


CK -- NY043 -- 5466 05/01/92 12:20 EDT
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Publication:PR Newswire
Date:May 1, 1992
Words:441
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