TORONTO, Feb. 23 /CNW/ -Fidelity Clearing Canada®, a division of U.S.-based National Financial® and a provider of clearing, custody and back-office support services to
Canadian-based brokerage firms and the Canadian brokerage arms of
U.S.-based firms, today announced that Euro Pacific Canada Inc. has
selected it to provide securities clearing for its brokerage business.
Under the new agreement, Euro Pacific Canada Inc. will receive
comprehensive back-office support, such as securities execution and
clearing. In addition, they will have access to Fidelity's extensive
suite of tools and resources for brokers including dedicated client
service, an open-architecture brokerage technology platform and global
Euro Pacific Canada is the 9th overall client for Fidelity Clearing Canada since that business was
established nearly one and a half years ago.
"Increasingly, broker-dealers are looking for the resources and scale of
a global organization, such as Fidelity, along with the in-country
expertise," said William (Bill) J. Henderson, CEO, Fidelity Clearing
Canada. "We will continue to make significant investments in our
technology and service offering, leveraging the best of Fidelity in the
U.S., as part of our longstanding commitment to helping clients, such
as Euro Pacific, meet their distinct business needs."
Newly established, Euro Pacific Canada Inc. provides investment banking,
institutional sales and trading services as well as a full-service
offering to the Canadian retail investing public.
"Informed by the hard money ideals so clearly and consistently
articulated by Peter Schiffi, Euro Pacific Canada sees promising opportunities in developing
markets," said David Cusson, CEO, Euro Pacific Canada. "We have a
particular focus on value based and commodity-focused investments and
concentrate on those countries that show greater respect for economic
fundamentals such as savings, production, and monetary discipline. It
is precisely these differences in outlook that make Euro Pacific so
About Euro Pacific Capital
Headquartered in Toronto Ontario, Euro Pacific Canada, www.europac.ca, is a full service IIROC registered brokerage headquartered in Toronto,
Ontario and specializing in foreign markets and securities. The
investment strategy is based upon the economic thinking of Euro Pacific
Capital's Chief Global Strategist, Peter Schiff, an internationally
recognized economist and financial analyst.
About Fidelity Clearing Canada
Based in Toronto, Fidelity Clearing Canada provides execution, clearing,
custody and back-office support services to Canadian-based brokerage
firms and the Canadian brokerage arms of U.S.-based firms. The
business is part of Fidelity's U.S.-based clearing organization,
National Financial, the second largest provider of clearing and custody
services with more than $465 billion in assets under administration (as
of Dec.31, 2010). For more information about Fidelity Clearing Canada,
please visit https://clearingcanada.fidelity.com.
While both part of the Fidelity Investments organization, National
Financial is a separate business from Fidelity Investments Canada ULC.
Fidelity Investments Canada manages over $64 billion ($CAD) in mutual
fund and institutional assets, as of Dec.31, 2010. For more
information about Fidelity Investments Canada ULC, please visit www.fidelity.ca.
About Fidelity Investments
Fidelity Investments is one of the world's largest providers of
financial services, with assets under administration of nearly $3.5
trillion, including managed assets of over $1.6 trillion, as of Dec.
31, 2010. Founded in 1946, the firm is a leading provider of
investment management, retirement planning, portfolio guidance,
brokerage, benefits outsourcing and many other financial products and
services to more than 20 million individuals and institutions, as well
as through 5,000 financial intermediary firms. For more information
about Fidelity Investments, visit www.fidelity.com.
Fidelity Clearing Canada ULC ("FCC")* is an indirect, wholly-owned
subsidiary of FMR LLC ("FMR"). FMR LLC and its subsidiaries
collectively, including FCC and three other separate legal entities
that are also Canadian securities registrants — Fidelity Investments
Canada ULC, Pyramis Canada ULC and Pyramis Global Advisors LLC, conduct
business under the "Fidelity Investments" name, which is a service mark
of FMR and a registered business name of FCC.
Fidelity Investments, National Financial and Fidelity investments and
the Pyramid Design logo are registered service marks of FMR LLC.
Canadian clearing and custody services provided by Fidelity Clearing
Canada ULC. U.S. clearing and custody services provided by National
Financial Services LLC, member NYSE, SIPC. Fidelity Clearing Canada ULC
and National Financial Services LLC are affiliates.
Euro Pacific and Euro Pacific Canada Inc. are independent organizations
and are not affiliated with Fidelity.
*Member-Canadian Investor Protection Fund.
National Financial Services LLC, Member NYSE, SIPC
200 Seaport Boulevard, Boston, MA 02110
© 2011 FMR LLC. All rights reserved.
i Peter Schiff is CEO of Euro Pacific Capital Inc.
SOURCE Fidelity Investments Canada Limited
For further information:
Director, Corporate Affairs