BROOKFIELD, Wis. – Fiserv announced a one-time, after-tax realized loss of $10 million in its Securities Processing Division resulting from a fraudulent trading scheme at one of its broker/dealer clients. According to Fiserv, the scheme revolved around short-selling, which is the broker/dealer's primary business. To offset the loss, Fiserv has sold investment securities totaling a one-time, after-tax realized gain of $10 million. Fiserv entered the securities processing business in 1987 and has made a handful of company acquisitions in that area. With offices in Philadelphia and Houston, its Securities Processing Business has 400 clients, 600 employees, and accounts for approximately 5% of Fiserv's revenue. The company is evaluating the occurrence to see if it needs to make any procedural changes in its Securities Processing Division.

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