Does anyone have any information on Ridge and the outsourcing service they provide to self clearing firms?
"Broadridge's Operations Outsourcing solution provides specialized and scalable staffing resources to support and enhance your back-office operations. A unique, industry-leading offering, Operations Outsourcing enables clients to outsource all or parts of the labor-intensive functions of trade clearance, settlement and custody while continuing to remain self-clearing broker-dealers."
I see that the past VP at Etrade is the VP at Ridge and I have seen posts about Etrade shareholders being contacted by Ridge.
"Acting for Etrade, Ridge Clearing, formerly ADP, told one shareholder they could no longer hold their cert because it is non transferable"
Just curious if others know what type of role Ridge plays with the self clearing brokers.
Charles Nalbone
Current VP/Chief Compliance Officer at Ridge Clearing & Outsourcing Solutions, Inc.
Past * VP/Chief Compliance Officer at E TRADE FINANCIAL
There are approximately 236MM shares that can be accounted for in the market out of a total issuance of 143MM."
"We have only scratched the surface."
