Both of the firms now use the ADP/SIS real-time straight through processing Brokerage Accounting System (BAS). The firms also contracted for other ADP/SIS products including ADP/SIS's Order Management System (OMS), POSSEsm, its premier browser-based broker desktop application, and OLOS, the fixed-income trading system.
The Brokerage Accounting System is an online real-time system that automates brokerage accounting and back office functions, using parameters to customize features to a firm's unique business requirements. The Order Management System allows firms to receive, enter, route and execute orders quickly, reliably, and cost-effectively. Orders are automatically booked in real-time to the back office. POSSEsm provides sales executives with 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 for all types of securities. OLOS provides firms with a real-time inventory management and marketing tool for fixed-income securities.
H.C. Denison Company, based in Sheboygan, WI, is the oldest independently owned, self-clearing retail brokerage firm in Wisconsin. H.C. Denison converted from a proprietary in-house system to ADP/SIS, and signed a multi-year agreement to use ADP/SIS's back office, as well as Portfolio, OMS, POSSE, and OLOS. James Testwuide, President of H.C. Denison said, "The ADP/SIS system allows us to focus our attention on our customers and away from constant system changes. Their support and industry integration, as well as their broker productivity applications, enhance our ongoing efforts to provide the best service to our clients. We look forward to a long and mutually beneficial relationship".
CNBS, LLC, based in Overland Park, Kansas, provides securities brokerage, investment advisory, portfolio reporting, asset/liability management reporting, and investment education and consulting services to financial institutions nationwide. CNBS signed a multi-year contract to use ADP/SIS's back office, POSSE, and OLOS products. Doug Richardson, Senior Vice President of CNBS said, "We reviewed several trade processing systems to replace our in-house system and chose ADP/SIS because it provided a significant upgrade in trade processing capability, back office accounting, and internal reporting at a very competitive and manageable cost."
David Swift, Senior Vice President and General Manager of ADP/SIS commented, "With the addition of these new firms, it's clear that our products, service levels, and value are being embraced by a wide range of companies who are looking for the most efficient and cost-effective brokerage tools available. Our client-focused software solutions provide firms with the tools necessary to grow their business and effectively manage their customers' needs. In addition, we continue to invest in industry-leading enhancements that increase our current clients' competitiveness and productivity. We welcome our new clients into the ADP family and look forward to serving them."