This innovative solution will help Pershing's introducing broker-dealer customers and their investment professionals process, service and maintain annuity contracts in a more efficient and effective manner.

Subscribe is accessible through NetExchange Pro, Pershing's online brokerage platform for introducing broker-dealer firms and their investment professionals. The new order-entry system provides Pershing's customers with a customizable, open architecture suitability questionnaire that offers greater oversight of the annuity transaction process, and helps them satisfy important regulatory requirements, including those mandated by Rule 2821 from the Financial Industry Regulatory Authority (FINRA). Introducing broker-dealer firms will also benefit from the ability to create tailored review and supervisory approval procedures to help them document and maintain a complete audit trail of each transaction and eliminate the manually-intensive challenges that are typical when processing annuities.

Pershing's new Subscribe platform offers introducing broker-dealer firms and their investment professionals a broad array of real-time capabilities to help them grow their annuity business. Subscribe enables Pershing's customers to access annuity products from 90% of the top 20 insurance carriers. Key features include:

• A robust, rules-driven workflow engine that collects and pre-populates required paperwork and stores critical transaction information online;
• Rigorous workflow procedures that prevent flawed transactions from being submitted for approval which in turn helps to increase operational efficiency and productivity;
• Electronic routing of annuity orders to Principals and the home office for review and approval;
• Notifications and alerts regarding order status and pending orders; and
• Same-day settlement and commission processing for annuity transactions via The Depository Trust & Clearing Corporation's Insurance Processing Service.

Ron Fiske, managing director of the product management and development group at Pershing, said, "Our new Subscribe platform will help to revolutionize the way in which our customers can process, service and maintain annuities on behalf of their clients' accounts. These new capabilities continue to move us closer to NAVA's straight-through-processing model and reinforce our commitment to provide introducing broker-dealers and their investment professionals with industry-leading tools and technology solutions that help them grow their businesses and meet their clients' retirement needs."