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ESP's Cost-Saving Service Attracts New Investors

Custodial Ticket Blizzard Gets Frosty Response from Investors

Traders Magazine, June 2007

Melanie Wold

Three sellside firms are betting that virtual clearing brokerage Electronic Specialist (ESP) has the key to cutting costs for the buyside with its aggregated trade allocation and settlement service. Credit Suisse, Bear Stearns and Susquehanna International Group have invested an undisclosed amount in ESP, an institutional broker and technology provider. The firm's claim to fame is that it streamlines workflow by offering buyside users a single, aggregated custodial ticket for multiple trades with its central counterparty clearing services.

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