ADP Brokerage Services Group, a division of Automatic Data Processing, Inc. announced the acquisition of back-office brokerage-software provider Power Securities Systems. PSS is a full-service, real-time back-office-processing engine built on modern technologies and component architecture. Based out of Goshen, Conn., PSS serves several national niche-market firms processing a variety of securities instruments such as equities, municipal bonds and corporate bonds.
PFPC Inc., the nation's largest full-service mutual-fund transfer agent and second largest provider of mutual-fund accounting and administrative services, announced that it has been selected by Smith Graham Company to provide comprehensive servicing to the SmithGraham Institutional Funds. Houston-based Smith Graham & Company is a global fixed-income investment-management firm with more than $2 billion in assets under management, and it is one of the largest African American-owned fixed-income-investment firms in the United States.