ADP Selected for E*Trade’s Outsourcing Solution
E*Trade Financial has selected ADP as providers for its outsourced brokerage transaction processing. The service has gone live and has been agreed for 10 years. The agreement includes regulatory document delivery services by ADP for its registered broker dealer subsidiaries. As part of this long-term agreement, brokerage back office books and records systems have been converted to ADP Brokerage Processing Services. ADP’s Tarot system is already in use at the E*TRADE UK office for international transaction processing. In addition, ADP will provide regulatory document delivery services as well as new account processing of paper applications. ADP’s system replaced existing proprietary and vendor systems. ADP has also extended its document management and workflow services internationally. The ADP service offers comprehensive processing capabilities including electronic document workflow and routing for areas such as new account opening, client agreements and compliance.