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Clearing firms invest in innovative technology, products; Some question if consolidation will continue.(Clearing Firms)
Investment News
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July 25, 2005
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Byline: Bruce Kelly
NEW YORK - Even as it faces continued consolidation, the clearing industry shows signs of vigor.
For example, Citigroup Inc. of New York last year took a further stake in the clearing business, launching Citigroup Correspondent Clearing Services. The unit is part of Citigroup's Global Transaction Services Group, a core business line.
And industry leaders such as Pershing LLC of Jersey City, N.J., and others continue to invest in new technology and products for broker-dealer and registered investment adviser clients. Pershing ...
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