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Fidelity Eyes Growth In Self-Clearing Biz

Traders Magazine, December 2003

John A. Byrne

National Financial, the clearing unit of Fidelity Investments, has embarked on a major drive to sign up dozens of self-clearing firms. Fidelity's clearing arm would also acquire industry rivals under the right terms, Norm Malo, president of National Financial, told Traders Magazine. But for now the firm is carefully weighing its next move, following its acquisition last year of Correspondent Services Corp. (CSC).

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