Science & Technology
Wed, March 16, 2011Tue, March 15, 2011Mon, March 14, 2011Fri, March 11, 2011Thu, March 10, 2011Wed, March 9, 2011Tue, March 8, 2011Mon, March 7, 2011Sun, March 6, 2011Sat, March 5, 2011Fri, March 4, 2011Thu, March 3, 2011Broadridge Achieves a Record Year in 2010 for Fixed Income Processing Platform Implementations
Published in Science and Technology on Wednesday, March 9th 2011 at 5:00 GMT by Market Wire
LAKE SUCCESS, N.Y.--([ BUSINESS WIRE ])--Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that 2010 was a record year for client implementations of its industry-leading fixed income securities processing platform. Eleven new banks and brokerage firms chose Broadridge because of the expansiveness of its fixed income processing platform, the speed and efficiency with which Broadridge brings clients onto the system, and its enhanced data security.
"Our market leadership in the fixed income sector is evidence of our ongoing commitment to being an indispensable partner to our clients. We consistently look to grow our ASP and BPO capabilities and align them with our clients' strategic priorities"
When firms outsource to Broadridge through a BPO or ASP model, firms can cost-effectively expand and transform their business. With Broadridgea™s scalable platform they can go to market with new fixed income capabilities quicker, manage risk more effectively and support regulatory reporting requirements more easily.
In November 2010, KeyBank Capital Markets expanded its outsourcing relationship with Broadridge with the implementation of the firm's mortgage-backed securities processing engine, known as MBS Expert®. Within 16 weeks, KeyBank was live on the system. aWe selected the MBS Expert product for two reasons: 1) as a Broadridge client for equities processing we were very satisfied with the firm's high level of service and support and, 2) because Broadridge was the first firm to successfully test centralized counterparty netting with the FICC. Of course, any opportunity to reduce risk is a welcome opportunity. KeyBank Capital Markets signed up for this product to net our trades on a daily basis with FICC, thus allowing us to significantly reduce counterparty risk,a said Paula Janofsky, Director of Operations, KeyBank.
Today, Broadridge processes an average of 300,000 fixed income trades per day, with a notional value in excess of $3 trillion, representing approximately 50% of the total fixed income trading volume generated by all primary dealers. "Our market leadership in the fixed income sector is evidence of our ongoing commitment to being an indispensable partner to our clients. We consistently look to grow our ASP and BPO capabilities and align them with our clients' strategic priorities,a said J. Michael Hopkins, President, Fixed Income Processing Solutions, Broadridge. aOur mission is to assist our clients and other industry participants solve for key capital market concerns.a
Broadridge has more than 40 years of experience in providing technology and outsourcing solutions to the global financial services industry. Fixed income processing represents one of the fastest growing sectors of Broadridgea™s expanding range of global BPO services which enable financial services firms to cost-effectively expand and transform their business. Economies of scale are achieved through Broadridgea™s on- and off-shore processing resources. In addition, Broadridgea™s BPO services include an experienced team with extensive industry knowledge and best-in-class performance levels.
Firms using Broadridgea™s solutions are able to minimize their risk by leveraging an industry-leading infrastructure that includes Tier Three-plus data centers and global support structure, IT services with robust capacity, and performance and disaster containment.
About Broadridge
Broadridge is a technology services company focused on global capital markets. Broadridge is the market leader enabling secure and accurate processing of information for communications and securities transactions among issuers, investors and financial intermediaries. Broadridge builds the infrastructure that underpins proxy services for over 90% of public companies and mutual funds in North America; processes more than $3 trillion in fixed income and equity trades per day; and saves companies billions annually through its technology solutions. For more information about Broadridge, please visit [ www.broadridge.com ].
