Enhance your soft dollar budgets through high quality, low cost trading.

MACC vendor payment services encompass both soft dollar and directed brokerage programs. These key administrative services are built on the same high quality, low cost execution platforms utilized by our "execution only" clients, ensuring that the vendor payment services clients can earn soft dollar credits while enjoying all the benefits of the ITS advanced trading solutions.

We can custom tailor a program for you that will start with a pricing/ratio analysis, designed to maximize your soft dollar credits. ITS can offer the simplicity of base per-share pricing with add-on per share credits, or work with ratios -- the choice is yours. Our extensive network of qualifying research and brokerage services vendors is available for application of client selected soft dollars, and we will work to establish arrangements with your existing vendors if we do not have a pre-existing relationship.

MACC's comprehensive vendor payment services reporting includes:

• Daily commission summary
• Daily consolidated confirmation report, and trade blotter
• Monthly reconcilation of credits earned, payments applied, and balances

At ITS, we realize the importance of accurate and timely reports to the administration of your vendor programs.

For more information call (412) 391-9100 or send an email to info@tradeserv.net.