Confirmation today that the correspondent clearing business in their UK is hotting up with the news today that JHC Securities – a subsidiary of retail stockbroking software developers JHC Plc – is to offer outsourced retail broking and clearing services to stockbrokers and fund managers.
The new clearing service will be offered to the retail broking and private wealth management industry in the UK, where providers are looking increasingly to concentrate on advice to clients while out-sourcing execution, clearing and settlement, IT support and web distribution.
“We are offering a wide range of service options, from Model A Clearing to partial outsourcing of Back Office and IT functions – with Business Continuity options,” says Angus Macdonald, Chief Executive of JHC Securities. “Our aim is to provide a unique offering for stockbrokers and fund managers in the outsourcing market: a very competitive, variable cost model, combined with functionally advanced and flexible software available from one source. The reliability and sophistication of our IBM-based systems gives us the best possible platform to deliver guaranteed, high level service.”
JHC Securities is based in Birmingham.