Legent Clearing announces Xtiva Alliance

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Legent Clearing and Xtiva Financial Systems have formed an alliance to provide preferred pricing on Xtiva's products to Legent's correspondents.

Xtiva Financial Systems, a leading provider of enterprise compensation solutions for the brokerage industry today announced that Legent Clearing of Omaha, Nebraska has formed a marketing alliance with Xtiva. This alliance will enable Legent correspondents to receive preferred pricing for Xtiva's sales compensation system solutions.

"Once we saw the success that two of our correspondents were having with Xtiva's system, we were confident that our other clients would be interested in achieving similar results," said Ray Maratea, Executive Vice President of Sales for Legent Clearing. "Our mission is to provide our clients with the best technology solutions so they can maximize their operational effectiveness. Xtiva's solutions have been proven at over 100 client installations to do just that."

"Our business development strategy has always been to partner with the top clearing firms to enable us to provide the maximum value to their fully-disclosed correspondents. Legent has proven that they have a platform that correspondents want, and they have been great to work with as we have developed the integration points for our solutions." said Thomas Moysak, Vice President of Sales and Business Development, Xtiva Financial Systems. "Forming this alliance will help us deploy our compensation solutions to Legent clients at a better price point and more effectively, reducing total cost of ownership for the correspondents."

The Xtiva suite provides full support for commission and compensation planning, back-office operations and reporting. Key benefits of the Xtiva suite include:

  • Consolidation - clients gain command of all key business data in one accessible and extensible data mart;
  • Flexibility - Easy modeling of unlimited payout, fee, and bonus structures to support the evolving business needs of a brokerage firm;
  • Efficiency - Streamlined back-office processing and automation of processing for all types of data feeds
  • Business visibility - Enterprise production reporting, including management-level reporting, agent/rep, branch, account, products, etc.

About Xtiva Financial Systems
Xtiva Financial Systems is a leading provider of enterprise compensation Software as a Service (SaaS) solutions for the brokerage industry. Founded in 1998 and based in New York City, Xtiva has developed state-of-the-art technologies that enable retail and institutional broker/dealers to streamline operations, from sales compensation and production reporting to supervision of rep licensing and compliance issues. With over 100 clients and key industry alliances, Xtiva is the leading provider of sales compensation solutions to the brokerage industry.

Xtiva's clients include AXA Advisors, H&R Block Financial Advisors, Mutual of Omaha Investor Services, New England Securities, Northern Trust, UBS, and Walnut Street Securities. Xtiva's partners include: Bear Stearns, Dain Correspondent Services, First Clearing, National Financial Services, Ridge Clearing, Investigo, and PriceMetrix. For more information about Xtiva, visit http://www.xtiva.com.

About Legent Clearing
Legent Clearing is a leading independent provider of correspondent clearing services. Since its founding in 2002, Legent has grown rapidly as a result of its unique combination of independence, best-of-breed technology and ability to offer customized solutions. Legent provides access to investment products such as equities, mutual funds, foreign securities, fixed income investments, prime brokerage, options, annuities, DVP/RVP and WRAP accounts through a variety of online tools and platforms. Legent Clearing, a wholly owned subsidiary of Legent Group, is headquartered in Omaha, Nebraska.

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