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A Presentation to 2008 Financial Services Institute Broker-Dealer Conference

A Presentation to 2008 Financial Services Institute Broker-Dealer Conference. Straight-Through Processing Panel Discussion. Lucille Mayer Managing Director Pershing LLC. January 30, 2008. Ease of doing business. Access to multiple financial products.

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A Presentation to 2008 Financial Services Institute Broker-Dealer Conference

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  1. A Presentation to 2008 Financial Services InstituteBroker-Dealer Conference Straight-Through Processing Panel Discussion Lucille Mayer Managing Director Pershing LLC January 30, 2008

  2. Ease of doing business Access to multiple financial products Provide accountability and reliability in the process Initiation as close to client as possible, through intuitive and streamlined data entry Minimize manual intervention—scalable, exception-based processing environment Compliance Support Dependability leading to long-term client relationships Straight-Through Processing Goals

  3. Providing Greater Choice Today’s advisors need access to a plethora of products Mutual Funds/No-Transaction Fee Trust Solutions Corporate Executive Services Lending Solutions Client Access Cash/Asset Management Fixed Income Advisor Portfolio/Tax Lot Accounting Retirement Products Hedging & Monetization Strategies Managed Accounts Customized Solutions Alternative Investments Philanthropy/Donor-Advised Funds

  4. Pershing’s Processing Vision—Broker/Advisor Initiation Initiation Validation Exception Processing Processing ImagedDocuments IBD Fax/Scan PershingImaging System Documents IBD Approved Request SubmittedRequest Request and Documents Request Auto Validation of Request (Rules Engine/Front-end Edits AdvisorInitiator(Sales Assistant/RR/OSJ/Home Office) Systematic document and request matching(Document Rendezvous) IBD Approver (OSJ/Home Office) Exception Processing of Document Initiation–NetExchange Imaging Rules Engine Workflow Document Rendezvous Approval

  5. The Keys to Straight-Through Processing Rules Engine: Workflow: • Codified business logic, role based, and process-driven • Allows for straight-through processing if no rules are triggered • Allows for rules to be defined based upon source of input, account number and office number • Codified business logic, role based, and process-driven • Allows a work item to follow a predefined business process including multiple levels of approvals within the Introducing Broker-Dealer/Registered Investment Advisor and Pershing, if required • Allows for continual monitoring of the status of a transaction throughout its lifecycle

  6. Results

  7. A firm’s Straight-Through-Processing Journey • ACH Processing • Retirement Plans–Distributions and Contributions • Account Transfers–Non-NSCC enhancements, Mutual Funds, Free Receives and Delivers • Imaging/Document Rendezvous • Trade Change Management (post-settlement) • Service Center • New account opening and maintenance, OASYS link • Voluntary Reorg Notices • Account Transfers – Full and Partial ACATs through NSCC, CITs • Fed Funds Pre-2002 2002 2003 2004 2005 2006 2007 2008 • Trading Functionality • Pre-settlement trade corrections for equities, options and fixed income • Order approval browse • Journals with approval workflow • Check Processing • Retirement Processing • Standing Instructions (Journals, Checks, ACH) • Journals (Additional Types) • Margin responses for House Calls and Fed Calls • Bank Transfers • Annuities

  8. Although Processing Volumes Have More Than Doubled... …Phone Inquiries Have Decreased by 50%!

  9. Service Level Performance Reporting – the “Gravy”

  10. Questions?

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