Securities Processing

Self-Clearing with

Service Bureau

Outsourcing

Self-Clearing with Ops.

Outsourcing & Service

Bureau

Broadridge’s

Simplified Securities Processing Model

Clearing

Fully-Disclosed Clearing

Financing

Activities and

Compliance

Technology &

Data Center

Operational

Infrastructure

Client

Responsibility

Client

Responsibility

Client

Responsibility

Provided by

Broadridge

Provided by

Broadridge

Provided by

Broadridge

Provided by

Penson

(Previously provided by Ridge)

Target

Large

Broker-Dealer Firms

Large ~ Medium

Broker-Dealer Firms

Medium ~ Small

Broker-Dealer Firms

Outsourced to

Broadridge

(Previously provided by Ridge)

Outsourced to

Broadridge

(Previously provided by Ridge)

Third Party

Clearing

Clients

•

In our 3-tier processing model Ridge Clearing has effectively been replaced by any third-party clearing firm  that uses our platform

•

Penson

as a clearing firm has outsourced the technology and operational infrastructure components to Broadridge

•

Penson

keeps the financing activities and related balance sheet activity

•

Broadridge

(via

Ridge

)

no

longer

provides

financing

activities

and

this

allows

Broadridge

to

reclaim

significant

capital

out

of

Ridge

Exhibit 99.5

Use of Materials Contained Herein

The information contained in this presentation is being provided for your

convenience and information only.  This information is accurate as of the date

of its initial presentation.  If you plan to use this information for any purpose,

verification of its continued accuracy is your responsibility.  Broadridge

assumes no duty to update or revise the information contained in

this

presentation.  You may reproduce information contained in this presentation

provided you do not alter, edit, or delete any of the content and provided you

identify the source of the information as Broadridge

Financial Solutions, Inc.,

which owns the copyright.

Broadridge

and the Broadridge

logo are registered trademarks of Broadridge

Financial Solutions, Inc.