Systematic plan eliminates disruptions

Transferring your business to a new clearing partner is a complex process. No surprise. It can even be disruptive – if you’re not prepared.

But that won't happen when you choose to partner with us. That’s because we follow a rigorous, systematic plan to help ensure a smooth transition. Here are some of the major events along the way:

Two to five months before conversion:

• We receive your signed clearing agreement
• We submit the agreement for FINRA/NYSE approval
• Your “Welcome Package” is issued to include:
  • A comprehensive Business Implementation Guide
  • An Operations Manual
• Your business implementation team is established to meet your firm's specific conversion needs
• Business analysis
• Conversion dates are set with your current clearing firm
• Conversion data files are requested
• Technology choices are finalized

One to two months before conversion:

• Data mapping
• Data testing
• Training plan developed and implemented
• Your client notification/negative response letter is reviewed
• Accounts are installed
• System connections and technology are tested

Conversion week:

• Trading is transitioned to our systems
• Focused operations training
• Final conversion files as of close of business Friday obtained and tested
• Assets are “memo posted” to client accounts
• Review and assurance that all details have been addressed

Post conversion:

• Converted positions and balances appear in client accounts
• All clearing business begins with us on Monday
• Additional training support
• Residual sweeps performed with former clearing firm

Our systematic conversion plan enables us to make the process as efficient, productive – and painless – as possible. It’s a proven plan that will work for you.