Fidelity Clearing Canada has successfully converted Dundee Securities Ltd. onto its Canadian clearing service platform, the two Toronto-based firms said Monday.
FCC provides clearing, custody and back-office support services to Canadian-based brokerage firms.
Dundee Securities, with approximately $4 billion in assets, is the latest in a series of firms to successfully convert to the FCC platform since that business was established in September 2009.
Dundee’s conversion included the transition of current market positions and balances and the complete conversion of over 10 years of transaction history on all client accounts.
Robert Sellars, chief financial officer and chief operating officer of Dundee Securities, calls the move to the new platform “an important step” in the firm’s evolution.