SunGard to Provide brokersXpress with Cost Basis Reporting and WealthStation Trading

Wayne, PA - 24 August 2010

brokersXpress, LLC, a wholly owned subsidiary of optionsXpress, Inc., has selected SunGard’s WealthStationTrading solution to provide independent financial advisors with flexible trading functionality. It also selected SunGard’s Cost Basis Reporting tax lot accounting solution to help it provide accurate intraday cost basis calculations for advisors’ accounts in accordance with new reporting requirements. brokersXpress is a broker-dealer that services registered representatives, financial planners and registered investment advisors (RIAs), especially those that trade options.

brokersXpress chose WealthStation for its ability to provide advisors with in-depth investment plans following asset allocations. WealthStation Trading helps advisors plan and execute trades on multiple asset classes via secure connections in real-time to brokerages or back-offices that can reach major service bureaus for stock and fund trading. SunGard’s Cost Basis Reporting engine displays client tax lot data and enables users to select tax lot sales methods in order to automatically process cost basis calculations. brokersXpress also uses SunGard’s Stream Phase3 global, multi-asset processing solution, which integrates with WealthStation and Cost Basis Reporting to provide a streamlined front- to-back-office process supporting trading and rebalancing.

Barry Metzger, chief executive officer of brokersXpress, said, “Our goal is to provide a cost effective alternative to the traditional broker-dealer relationship by helping independent reps and advisors manage their businesses online. WealthStation’s ability to provide a trading workflow integrating asset allocation, rebalancing, and accounting processes will help us to offer advisors increased productivity, flexibility and independence to build stronger client relationships. In addition, SunGard’s integration between its solutions provides us with greater efficiencies.”

Blaine Maxfield, executive vice president of SunGard’s wealth management business, said, “With tremendous growth in the independent advisor segment, it is crucial to the success of broker-dealers to provide advisors with tools that help them increase their productivity and grow their businesses. By helping brokersXpress advisors go beyond proposal and planning into execution and follow-up, SunGard is helping to enhance the advisor/client relationship through more comprehensive service.”

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