ADP Brokerage Services Group is to acquire Dataphile Software, a provider of real-time, straight-through processing solutions for broker/dealers in Canada. Financial terms have not been disclosed.
Dataphile, headquartered in Toronto, was founded in 1991 and offers a suite of processing solutions for Canadian brokerage firms and mutual fund dealers. Dataphile's flagship products include ExeClear, a real-time back-office processing engine, ExeNet, an Internet-based retail client desktop, RapidPhire, a proprietary order management system with electronic interfaces to the Canadian exchanges and ProPhile, a proprietary portfolio management desktop product for brokers and financial planners.
The acquisition contributes to ADP's strategy of expanding its services in Canada, allowing it to serve small to mid-size brokerage firms as well as adding new products to its existing offering. The acquisition adds a broker desktop application and an Internet trading front end to ADP's existing suite of products.