Fidelity Clearing Canada (FCC) has landed a contract to provide securities clearing, real-time transaction processing and integrated risk management and operational tools to ITG Canada Corp., the Canadian unit of independent agency broker Investment Technology Group.
This brings FCC’s list of clients up to seven Canadian broker-dealers, clearing about 260,000 trades per month on behalf of its clients.
“With the signing of seven clients since our launch one year ago, Fidelity Clearing Canada has made a significant impact on the Canadian market driven by our focus on delivering a dedicated service model supported by a sophisticated technology platform,” said CEO Bill Henderson.
“Based on the volume and diversity of clients we have converted thus far, it is clear that broker-dealers are increasingly recognizing the strength and flexibility of the platform and its comprehensive capabilities to help them achieve success.”
FCC has also been busy on the hiring front, naming three new executives to its C-suite today — and lifting some top talent from around the Toronto financial district to do it.
Tom White has been named chief operating officer and will be responsible for the day-to-day management of key operating functions. He joins FCC after 27 years with Merrill Lynch Canada, where he most recently served as director and vice-president of its global markets and investment banking service.
Bryan Moffitt takes over the role of chief compliance officer (CCO). Prior to joining FCC, Moffitt served as CCO at RBC Direct Investing Inc. He replaces Mike Bignell, who left FCC in April.
Ron White has been named chief financial officer (CFO), coming to FCC from the Bank of Nova Scotia where he served as CFO of Scotia iTrade.
“With a combined average experience of more than 20 years, Tom, Ron and Bryan are very well-known and respected leaders within their disciplines, each possessing a deep knowledge and understanding of the Canadian clearing market and broker-dealer industry,” said Henderson. “Each will play a key role in helping our clients create greater operational and growth efficiencies.”
Read: Fidelity steps up Canadian presence
(09/21/10)