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TheMuniCenter, LLC Goes Live on Broadridge’s Brokerage Accounting Solution
Broadridge offers an expansive range of solutions that provide the industry with comprehensive support for fixed-income instruments. Along with impact sm, FinancePro, MBS Expert ®, and Aspire Trader, Broadridge’s SIS platform is designed to offer clients a turnkey solution for their fixed-income and equity trade processing, accounting, financing, and inventory needs. TMC chose Broadridge’s SIS platform to support its transition to self-clearing from a fully-disclosed model. James Wangsness, TMC’s Chief Operating Officer commented that “Broadridge provided consultative advice to help us make the cost-effective move to self-clearing for our high volume dealer-to-dealer products including Municipals and Corporate Bonds. Previously, we had linked to Broadridge’s Aspire Trader IMS, which gave us comfort for smooth technology integration. Furthermore, with TMC’s explosive growth over the past few years (including a 20% market-share 1 for municipal bond transactions), it was important to select a partner who could ensure a seamless transition so as not to disrupt our clients. Finally, as TMC’s business grows, the SIS infrastructure affords TMC a scalable and efficient platform to potentially expand self-clearing to encompass our fast-growing institutional customer segment and more exotic product categories (e.g., MBS and ABS).” “We are extremely pleased that TMC has chosen Broadridge as their partner. Our SIS platform is very well suited to their high-volume, multi-instrument, real-time business needs,” said Rob Enz, Senior Vice President and General Manager, Securities Processing Solutions-SIS, U.S. , Broadridge. “Broadridge’s mission is to deliver world class service to our clients by providing them with industry-leading tools that enable them to focus on their core business through efficient, scalable operations. Our solution allows TMC to provide their customers with superior service at a cost-effective price,” he added. 1 Based on the first quarter of 2009’s total dealer-to-dealer transactions as reported by the MSRB. About Broadridge Broadridge Financial Solutions, Inc., with over $2.2 billion in revenues in fiscal year 2008 and more than 40 years of experience, is a leading global provider of technology-based outsourcing solutions to the financial services industry. Our systems and services include investor communication, securities processing, and clearing and outsourcing solutions. We offer advanced, integrated systems and services that are dependable, scalable and cost-efficient. Our systems help reduce the need for clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities. For more information about Broadridge, please visit www.broadridge.com. About TMC TheMuniCenter (TMC) creates an optimized fixed income marketplace by blending electronic trading/tools and voice brokerage for traders, advisors and institutions. TMC offers commingled dealer/buy-side inventory from hundreds of anonymous liquidity providers. Live inventory is comprised of up to 30,000 daily taxable/tax-exempt line items reaching $17 billion par value. Current inventory includes Agencies, Auction Rate Securities, CDs, CMOs, Corporates, MTNs, Municipals, Structured Products, and Treasuries. Founded in 2000, TMC is owned by a consortium of leading financial firms including Bank of America, Citi Global Markets and Morgan Stanley. More information on TMC can be found at www.themunicenter.com. ### |
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