Itiviti, Broadridge Financial Solutions, Inc.’s (NYSE: BR) provider of flexible, cross-asset trading solutions “covering the full trade lifecycle,” reveals that the integration of its NYFIX Matching solution with the portfolio is complete, along with the order and investment management system from Broadridge.
“The post-trade space has historically been defined by manual processes, but given shrinking technology budgets, many firms have been unable to address these challenges,” stated Ray Tierney, President of Itiviti, a Broadridge business.
“Now, less than six months after being acquired by Broadridge, Itiviti can deliver our automated NYFIX Matching solution for trade allocation, confirmation and affirmation to a far greater number of clients, helping them save money and expedite trade matching. This integration is a testament to the full power of Broadridge’s capabilities, which can scale to support clients now and into the future.”
The new solution has been designed to empower Broadridge’s customer base with direct access to NYFIX Matching’s automated trade allocation, “confirmation and affirmation capabilities.”
Customers are able to gain the ability to consolidate matching of multiple asset classes “on a single platform and match trade details at a granular level, delivering efficiency and cost benefits.”
The announcement also mentioned that NYFIX Matching’s FIX-based affirmation occurs “in near real time, seamlessly catching errors, minimizing costly trade breaks, and supporting accelerated settlement cycles.”
As noted in a release:
“As with most Itiviti products, this solution is multi-asset, global and fully hosted and offers a modern user interface. This is the first of many product integrations between Itiviti and Broadridge and serves as a compelling example of the strong synergies between the two.”
Broadridge Investment Management Solutions has been designed to support buy-side customers in each step of the trade lifecycle, allowing enhanced trade processing “at a scale befitting a global fintech leader with over $5 billion in revenues.”
As previously reported, Broadridge Financial Solutions, Inc.is a $5 billion global Fintech platform. It’s a major provider of investor communications and tech-powered services to banking institutions, broker-dealers, fund and wealth managers and corporate issuers.
Broadridge’s infrastructure “underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than U.S. $9 trillion in fixed income and equity securities trades per day.” Broadridge is “part of the S&P 500® Index and employs over 13,000 associates in 21 countries.”
As mentioned in the release, Itiviti offers almost 2,000 financial institutions globally with “flexible, cross-asset trading solutions that cover the full trade lifecycle.” Through its commitment to technology innovation, “relentless pursuit of workflow efficiency and an entrepreneurial culture, Itiviti is disrupting the industry with highly scalable solutions that deliver unprecedented cost savings for clients.”
Itiviti has been acquired by Broadridge Financial Solutions, Inc. (in May 2021).