StoneCastle Does Sweeps for COR
A press release entitled, "COR Clearing Selects StoneCastle to Provide Integrated, Insured Cash Sweep Technology Solution," tells us, "StoneCastle Insured Cash Sweep, LLC, a subsidiary of StoneCastle Cash Management, LLC announced today that it has been selected to be the sole provider of cash sweep services for COR Clearing, LLC, an Omaha-based independent full-service settlement clearing firm for correspondent introducing broker-dealers and registered investment advisors (RIAs). The deal, which commenced in early November, expands COR's value to its clients through StoneCastle's nationally recognized FDIC insured cash sweep solution. COR is one of the top seven largest clearing firms in the U.S. ranked by number of broker-dealer correspondents according to InvestmentNews." Jeffory Sime, President & CFO of COR, says, "With StoneCastle, our firm is now equipped with a flexible, open platform supported by superior sweep solutions that can meet our unique business requirements for today and in the future." StoneCastle Cash Management Vice Chairman Steve Rotella adds, "We are proud to be selected by COR to be their cash management partner. The privilege of working with COR underscores our commitment and ability to deliver differentiated solutions that satisfy their clients' demands for safety and yield while providing the relevant tools and support model to profitably attract new business."
