ADP Brokerage Services Group, the transaction services subsidiary of Automatic Data Processing, has acquired Power Securities Systems (PSS), a US-based back-office brokerage software provider, for an undisclosed sum.

PSS's product, Powerclear, is a client server-based securities clearing and settlement system. It offers real-time, scaleable, multicurrency clearing and settlement in Unix or Windows NT environments. The company claims it is a low-cost alternative to the more commonly used mainframe-based systems. The product will enable ADP to penetrate niche and emerging markets participants that are evaluating whether to do the clearing themselves, rather than outsourcing trade processing.