Wheat Ridge, Colorado – September 9, 2002 - ADP/Securities Industry Software (ADP/SIS), a division of Automatic Data Processing, Inc.'s (NYSE: ADP) Brokerage Services Group, announced today the launch of version 4.6 of POSSESM, its premier broker desktop application. POSSE 4.6 makes fixed income products easier to track and sell, as available information can be sorted, customized and displayed according to a broker's or investor's personal criteria. It also gives brokers the ability to analyze a client's purchasing power.
The POSSE product is designed with the productivity needs of the sales executive in mind: quick, real-time access to client and product information, portfolio charts and reports, real-time tax lot accounting, sales and commission calculation tools, and effortless order entry. It is fully integrated with ADP/SIS's flagship order entry, fixed income offering and back office accounting applications. POSSE's browser-based architecture also eliminates the distribution difficulties associated with client-server applications.
The latest release of POSSE adds fixed income offering and trading functions from ADP/SIS's Online Offering System to the growing number of modules already available to sales personnel. This new module assists sales executives in researching and selling fixed income instruments, by giving them access to real-time information on current offerings. Sales personnel can view details of new offerings, create "hot lists" for monitoring a subset of offerings, reserve offerings, and enter, modify or cancel orders. Data is updated dynamically, so sales decisions are always based on the latest information.
In addition to the fixed income module, the newest version of POSSE also displays real-time investor trading power values designed to help a firm assess and manage risk associated with rapid trading decisions. Firms are able to customize their system settings to define their own calculations for an investor's cash available and real-time purchasing power. Other enhancements in the new POSSE release include portfolio sector reports, more firm, office and user customization, plus improvements in navigation, response time and user access control.
Vincent Purpura, President and CEO of the Davidson Companies said, "POSSE's cost basis and asset allocation tools make it a very valuable application to help us serve our retail investors. We're very pleased with this latest release. We see superior navigation, improved response time and easier-to-use order entry screens. D.A. Davidson has partnered with ADP/SIS to plan and test the POSSE product throughout its evolution. It's been a great partnership. POSSE is a very robust offering for ADP/SIS in the retail brokerage market."
David Swift, General Manager of ADP/SIS said, "Brokerage firms need real-time access to information and feature-rich functionality to attract and retain top producers, who demand nothing but the best when it comes to servicing their clients. POSSE is a state-of-the-art solution, designed specifically to help sales executives be successful. We are seeing an increased demand for POSSE, as firms search for more effective tools to better serve their clients in today's challenging marketplace."
As a leading provider of securities and information processing software solutions, ADP/SIS specializes in serving discount and electronic-based retail brokerages, as well as correspondent clearing, day trading, regional broker dealers, banks and institutional firms.