Murphy & Durieu, based in New York, NY, has chosen ADP Clearing and Outsourcing Services to provide a full range of clearing and settlement services for equities and fixed income transactions on behalf of Murphy & Durieu, for both its retail and institutional business.
Murphy & Durieu is already self-clearing some of its transactions on ADP's service bureau, Brokerage Processing Services (BPS) and chose ADP Clearing for its correspondent business in order to consolidate its transaction processing with a single outsourcing partner.
"We are delighted Murphy & Durieu has chosen to take advantage of all the options ADP has to offer by adding a fully disclosed relationship with ADP to their existing self-clearing partnership," said John Hogan, co-President, ADP Brokerage Services Group.
