The401kStore Becomes NSCC Direct Trading Partner

SAINT LOUIS, Missouri The401kStore.com announced today that it has become a direct trading partner with the National Securities Clearing Corporation (NSCC) to execute mutual fund transactions for its multi-fund daily valuation 401(k) clients. The NSCC is a central counterparty that provides centralized clearance, settlement and information services for virtually all mutual funds.
Most 401(k) providers use an intermediary to handle fund trades. Being a direct trading partner with the NSCC allows the401kstore.com to trade directly with almost all mutual fund families. The result of direct trading and confirmation of transactions is efficient transaction execution with very low trading costs.
According to Keith Kowalczyk, President of The401kStore.com, "… being able to trade directly with the mutual fund families allows us greater quality control, a 3:00 pm trade deadline and extremely low transaction costs. Additionally, by eliminating an intermediate trading platform, we collect all of the mutual fund subsides which allows us to pass on these savings to our clients giving us superior pricing power."
The trading partnership with NSCC is called "tri-party trading". The401kStore.com initiates the trades made by the plan participants, electronically uploads the transactions to NSCC and settles the transaction through US Bank. This automates the execution and confirmation of the transactions reinforcing the401kstore.com's mission of technological leadership.
The401kStore.com is a wholly owed subsidiary of QBC, Inc., a regional 401(k) and pension administration company. Established in 1981, QBC, Inc. has been a leading provider of quality, timely retirement plan administrative services in the St. Louis region. Highly regarded for their knowledge and ability, QBC, Inc. has experienced consistent, steady growth. QBC, Inc. established The401kStore.com embarking on the development of a premier multi-family 401(k) solution for their clients. The401kStore.com has positioned itself to be a leader in cutting edge technology for 401(k) plans.