Comprehensive Plan

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.

Redefine How You Think About Clearing Relationships.
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