Fidelity Clearing Canada adds Dundee

By Staff | April 10, 2012 | Last updated on April 10, 2012
1 min read

Fidelity Clearing Canada, a provider of clearing, custody and back-office support services to Canadian-based brokerage firms, has successfully converted Dundee Securities onto its Canadian Clearing service platform.

Dundee Securities is a national full-service firm with both private client and institutional capabilities, with roughly $4 billion in assets. The company chose Fidelity Clearing for its ability to provide a comprehensive level of business support, including one of the industry’s leading brokerage platforms and sophisticated service models.

Dundee Securities’ conversion onto the platform included the transition of current market positions and balances, as well as the complete conversion of more than ten years of transaction history.

“Considering the complexity and scope of the conversion and after evaluating many alternatives, our team came to the conclusion that Fidelity Clearing Canada had the people, technology and service culture we needed,” says Robert Sellars, CFO and CIO of Dundee Securities.

“The investment and commitment by both the Fidelity and Dundee teams has significantly expanded our retail capabilities,” says William J. Henderson, CEO of Fidelity Clearing Canada.

Dundee Securities is the latest in a series of firms—which include Trapeze Asset Management and Versant Partners—to successfully convert to the clearing platform. Fidelity Clearing Canada was established in 2009 and made the move to strengthen its senior management team in 2010 by hiring a new COO, CCO and CFO. Since its launch, the company has established relationships with 12 Canadian broker-dealers. staff


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