Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of James Kissane from Bank of America. Please go ahead.
James Kissane - Bank of America/Merrill Lynch
Hey Tom, can you give us a little bit more color or some of the rationale behind the loss of the subaccount client?
Thomas McDonnell
Well, basically one of our major subaccount client has had business in multiple occasion without proposal and they decided to opt out of our subaccount and in that conversion we anticipated all first -- second half next year -- like competitive loss, pretty hard they contest a bit a loss on the syndrome.
James Kissane - Bank of America/Merrill Lynch
Was it the result of a recent consolidation or--?
Thomas McDonnell
Yes, actually.
James Kissane - Bank of America/Merrill Lynch
Okay. And on that point so given some of the recent consolidation in the mutual fund space and some of the anticipated consolidation, how do you think DST is positioned?
Thomas McDonnell
Well, I mean generally with our client base, we would hope some of them would be the consolidated or in this particular case was not our client I mean is really sort of the reversed major book of business was on a different platform. I mean I think we by and enlarge of course anyone consolidation can go the wrong way but I think generally we feel that consolidation is generally constructive for us.
Kenneth Hager
The ones that have been announced to-date are both all in our platform.
James Kissane - Bank of America/Merrill Lynch
Okay. So assume given just increased volume from particular customers' pricing could come under some pressure?
Thomas McDonnell
Pricing has been under pressure for sometime. But I think overall a lot of that came from some of the -- sort of financial trauma that our clients were experiencing. I am not saying it's totally mitigated but I think it's got be leveling off here at some point.
James Kissane - Bank of America/Merrill Lynch
Okay. And on output, can you quantify the total revenue that you'd be getting say next year or just in 2010 from the -- I guess it's now five new clients signed in the past two quarters?
Thomas McDonnell
We don't have that in front of us. I mean most of that it'll be included in the fourth quarter so we couldn't be pretty well extrapolated from there. Hopefully with that volume coming on we'll see some operating leverage should help those margins too.
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