October, 2008
Pershing Unit of Bank of New York Extend Alliance with Broker’s Ally Pro and its NetExchange Pro
Exton, PA (October, 2008) Scherrer Resources, Inc. announced today that Pershing, LLC has extended its
partnership and distribution agreement of Broker’s Ally Pro for their joint licensing, marketing, and technical
transfer agreement involving the two companies’ brokerage technology products. A customized version of Scherrer
Resources’ popular Broker’s AllyTM software product has been integrated into Pershing’s NetExchange ProTM for
Windows platform and ParadigmTM client/server application. The tailored version, called Brokers AllyTM Pro,
includes 30 customizable data fields that are designed specifically for use by Pershing correspondents.
Broker’s Ally is an integrated database management and word processing system that includes account information,
notepads, and the scheduling of calls, meetings, and actions. It also retains client information such as
investment objectives, income, net worth, and account numbers. Developed by Pennsylvania-based Scherrer
Resources, Inc., the product is used by more than 35,000 retail brokers and their sales assistants nationwide.
Pershing will install Broker’s Ally Pro as an integrated offering under this agreement.
According to Jim Scherrer, president of Scherrer Resources, Inc., "Combining the powerful NetExchange Pro for
Windows and Paradigm applications with Broker’s Ally Pro enables Pershing correspondents and their investment
professionals to better manage client information and relationships, and gives them the ability to better retain
and serve their clients."
Pershing developed NetExchange Pro for Windows to address the specific needs of its customers and their investment
professionals. In addition to online order entry and complete account information, NetExchange Pro for Windows
provides real-time quotes, market news, and investment research. It also offers the ability to browse client
accounts, and retrieve execution reports and order status. Paradigm is a robust, client/server application
designed to assist front, middle, and back office personnel in conducting their business more efficiently.
The ability to integrate Broker’s Ally Pro with our NetExchange Pro platform allows the firm to offer investment
professionals a powerful desktop and Windows-based client information management tool.
BNY Pershing executes and clears equity, fixed income, mutual fund, and option transactions for more than 550 firms
and provides account administration, management information, and investment related services to the financial services community.
Headquartered in Exton, PA Scherrer Resources, Inc. specializes in developing sales force automation systems,
management tools, and business workstations for the financial services community. It also provides related
services that include emergency hotline support, system installation, software training, and software upgrades
to their popular line of Broker’s Ally software products.