LONDON -- (MARKET WIRE) -- 09/10/07 --
Broadridge Financial Solutions, Inc. (NYSE: BR),
formerly ADP Brokerage Services Group, has announced that leading Japanese
Investment Bank, Mizuho Securities Co. Ltd., is now using its product Gloss
for non-resident trade clearing and a related module, the JASDEC Adapter,
for investment trusts book entry settlement.
Mizuho Securities is already an established user of Gloss®, which is
Broadridge's market leading international securities processing platform.
Gloss automates the securities trade processing lifecycle from trade
capture through to settlement for virtually any security in any currency.
Gloss processing has been extended to handle non-resident trade clearing,
most recently for the London entity.
Mizuho is also using Gloss for non-resident trade clearing of Japanese
equities and convertible bonds; and is processing matching and settlement
for Mizuho Securities entities in Hong Kong, New York and London. In a
separate initiative Mizuho Securities is now using the JASDEC Adapter to
process investment trusts.
Broadridge has responded to market changes, where investment trusts in
Japan have become paperless, with settlement taking place in JASDEC.
Broadridge has upgraded the JASDEC Adapter to handle the new requirements
of investment trusts. Broadridge believes that providing firms the ability
to process investment trusts via the JASDEC Adapter will help them reduce
their operational risk and improve their process efficiency.
About Broadridge
Broadridge Financial Solutions, Inc., formerly ADP Brokerage Services
Group, with over $2.0 billion in revenues 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. Broadridge offers a broad, integrated suite of
innovative global solutions across the investment lifecycle and provides a
wide range of cost-effective and scalable solutions to the financial
industry. 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.
Forward-Looking Statements
This press release and other written or oral statements made from time to
time by representatives of Broadridge may contain "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. Statements that are not historical in nature, such as our
fiscal 2008 directional view, and which may be identified by the use of
words like "expects," "assumes," "projects," "anticipates," "estimates,"
"we believe," "could be" and other words of similar meaning, are
forward-looking statements. These statements are based on management's
expectations and assumptions and are subject to risks and uncertainties
that may cause actual results to differ materially from those expressed.
Factors that could cause actual results to differ materially from those
contemplated by the forward-looking statements include: the ability of
Broadridge to develop brand recognition and its reputation with its clients
and employees following its separation from Automatic Data Processing,
Inc., (ADP) in March 2007; Broadridge's success in obtaining, retaining and
selling additional services to clients; the pricing of Broadridge's
products and services; the incurrence of additional costs attributable to
Broadridge's operations as a stand-alone public company; Broadridge's
ability to continue to obtain data center services from its former parent
company ADP, as well as to obtain transitional services from ADP for up to
one year from the date of Broadridge's spin-off from ADP; changes in laws
affecting the investor communications services provided by Broadridge;
changes in laws regulating registered clearing agencies and broker-dealers;
Broadridge's debt levels and financing costs, including the impact of its
credit ratings on such costs; financial market activity; changes in
technology; availability of skilled technical employees; the impact of new
acquisitions and divestitures; competitive conditions; and overall market
and economic conditions. Broadridge disclaims any obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise.
Media:
Mike WestBroadridge Financial Solutions, Inc.London
T: +44 (0) 20 7551 3224
E: Email Contact