New York, NY - January 23, 2006 - ADP Clearing & Outsourcing Services, Inc. (ADP Clearing), a division of Automatic Data Processing, Inc. (NYSE: ADP), announced today that Alta Capital Group LLC has signed a multi-year contract for ADP's brokerage clearing services.
Alta Capital Group, a minority-owned broker dealer that specializes in municipal and corporate offerings, represents a significant new client for ADP Clearing. Alta has chosen ADP Clearing to provide a full range of clearing and settlement services for their municipal and corporate bond business.
"ADP Clearing's experience in the financial industry and comprehensive product suite makes them the best fit for us," said James Dolan, CEO, Alta Capital Group. "We are confident that they understand our needs and that their clearing capabilities will help us maintain our competitive edge. We look forward to sustaining a long relationship," he added.
"We are proud that Alta Capital Group has chosen us to be their clearing provider," said Joe Barra, President, ADP Clearing. "We are committed to providing them with superior clearing and settlement services and delivering the highest level of service to their customers."