Continental Stock Transfer Changes Systems and Moves Offices

Continental Stock Transfer, the nation’s fourth largest stock transfer agent, recently took two key steps.  It changed its underlying record keeping system from SunGard’s CSSII to TS Partners’ TranStar platform, and it moved its New York City headquarters from 17 Battery Place to 1 State Street Plaza.  While SunGard has historically dominated the record keeping environment for companies performing their own stock transfer work in-house, and for many bank transfer agents as well, this has been seriously challenged of late by Pennsylvania-based TS Partners, Inc.  Indeed Aflac, a large in-house agent, moved from SunGard to TS Partners/TranStar within the past two years; and, fifth largest U.S transfer agent Broadridge Corporate Issuer Solutions became a TranStar (and extended services) user when it entered the stock transfer business via acquisition in 2010.  Continental was apparently impressed enough with the TranStar system to eschew upgrading to SunGard’s new “Stream” record keeping platform.

Continental was also in need of a facilities enhancement, and it achieved this by moving into 1 State Street Plaza’s 30th Floor, representing a 36,000-square-foot “modern” layout offering state-of-the art equipment and technology.  This superior work environment will undoubtedly boost the energy and spirit of Continental’s 100 employees – likely producing even better service to Continental’s 1,100+ stock transfer clients.

These dual moves made by Continental clearly demonstrate Chairman and President Steven Nelson’s recent pledge that the company would “move forward aggressively into the future.”