DST Brokerage Solutions Announces the Formation of DST Market Services, LLC
Sub-accounting service providers DST TASS and Wall Street Advisor Services combine to form a single organization
KANSAS CITY, Mo., March 22, 2012 /PRNewswire/ -- DST Brokerage Solutions, a DST Systems business unit committed to the development of next-generation of tools, products, and services for broker-dealers, today announced the group has combined its two sub-accounting service providers to form DST Market Services, LLC.
The new entity was created through the merger of DST TASS and Wall Street Advisor Services, and will continue to specialize in delivering mutual fund processing and sub-accounting services to help improve productivity, increase process efficiency and reduce operational risk.
DST Market Services is a registered broker-dealer, meaning it is subject to the same regulatory environment as their clients. According to Stuart Bowers, President, DST Market Services, this offers a uniquely compelling business proposition.
"Being a broker-dealer will help us sharpen our focus and delivery of services," says Mr. Bowers, "and strategically aligns our interests and values with those of our customers. We also believe that DST Market Services more accurately describes the comprehensive set of solutions we provide to our clients. We look forward to sharing our vision for DST Market Services with our customers and the financial intermediary community as we continue to invest in new tools, technology, and solutions."
DST Market Services will continue to be a leading provider of mutual fund subaccounting services that uniquely combines broker-dealer operations experience, a deep understanding of subaccounting work flow processes, and leverages DST's technology platform to deliver a complete subaccounting solution. DST Market Services is also a member of FINRA and SIPC.
About DST Brokerage Solutions, LLC
DST Brokerage Solutions, LLC is committed to fundamentally impacting the way the brokerage market conducts business. Delivering efficient connectivity between all parties throughout the lifecycle of a financial product, DST Brokerage Solutions is addressing broker/dealers' unique challenges. A comprehensive, flexible suite of solutions provides seamless integration between all of the applications broker-dealers need to control and conduct their business more efficiently and cost effectively. DST Brokerage Solutions is a wholly owned subsidiary of DST Systems, Inc.
About DST Systems, Inc.
DST Systems, Inc. provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST's world-class data centers provide technology infrastructure support for financial services and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly-traded company on the New York Stock Exchange.
The information and comments in this press release may include forward-looking statements respecting DST and its businesses. Such information and comments are based on DST's views as of today, and actual actions or results could differ. There could be a number of factors, risks, uncertainties or contingencies that could affect future actions or results, including but not limited to those set forth in DST's periodic reports (Forms 10-K or 10-Q) filed from time to time with the Securities and Exchange Commission. All such factors should be considered in evaluating any forward-looking statements. The Company undertakes no obligation to update any forward-looking statements in this press release to reflect future events. Brand, service or product names or marks in this press release are trademarks or service marks, registered or otherwise, of DST Systems, Inc., DST subsidiaries or affiliates, or third parties.
SOURCE DST Systems, Inc.
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