NEW YORK, NY -- (MARKET WIRE) -- 08/09/07 --
Broadridge Financial Solutions, Inc. (NYSE: BR) announced today that Mizuho Securities USA Inc. has signed a multi-year
contract and has successfully gone live on Broadridge's MBS Expert®
service bureau solution. Although previously available on a license basis,
Broadridge's industry-leading MBS Expert is now the only standalone
mortgage-backed trade processing system offered on a service bureau in the
marketplace.
MBS Expert is Broadridge's mortgage-backed securities solution that is
engineered to give its users a competitive advantage in this multi-trillion
dollar market. The system provides clients with advanced workflow and
processing functionalities to maximize front, middle, and back office
operational efficiencies. Broadridge's MBS Expert service bureau solution
enables MBS Expert clients to realize the economies of scale and
cost-saving benefits associated with all Broadridge service bureau
offerings. As the only standalone MBS TBA (To Be Announced) trade
processing and pool allocation system on a service bureau available, MBS
Expert can seamlessly integrate with a client's existing front and
back-office infrastructure, further diminishing client start-up costs.
An existing Broadridge client, Mizuho Securities currently uses the Gloss
and impact products for international and fixed income securities
processing. As part of a new business initiative, Mizuho Securities will
now expand its trading capabilities to include mortgage-backed securities
and is the first service bureau client to implement MBS Expert Service
Bureau to support this new business.
Joe DiPaolo, Director of Business Process Automation of Mizuho Securities,
stated that he is confident that MBS Expert was the right choice to
adequately support Mizuho's expanding business needs. Mr. DiPaolo said,
"Our decision to launch this new business meant that we needed a processing
solution that was robust, yet scalable and could also be implemented
quickly. MBS Expert offers us the range of functionalities that our
business demanded and using it in service bureau environment allowed us to
expedite implementation and begin growing our business almost immediately."
"Broadridge is always delighted to support our clients as they continue to
expand and grow their business and we are excited that Mizuho Securities
has chosen to use MBS Expert to manage its mortgage-backed processing
needs," said J. Michael Hopkins, General Manager, Securities Processing
Solutions, Fixed Income, Broadridge. "Our MBS Expert service bureau
offering minimizes the vast time and expertise typically associated with
implementing competing products, enabling Mizuho to maximize its return on
investment quickly and better focus operating and staffing resources on
core business functions."
About Broadridge
Broadridge Financial Solutions, Inc., formerly ADP Brokerage Services
Group, with nearly $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 integrated 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 Mizuho Securities USA Inc.
Mizuho Securities USA Inc. (MSUSA) is the U.S. securities and futures arm
of the world-wide Mizuho Financial Group. Together with our affiliate,
Mizuho Corporate Bank, Ltd., one of the world's premier wholesale banks,
MSUSA provides innovative solutions to the financial requirements of our
clients. MSUSA has a presence directly and through its affiliates in the
major international financial centers.
MSUSA itself has a wholly owned subsidiary in Singapore, Mizuho Futures
(Singapore) Pte Ltd
Equity: MSUSA is one of the top Japanese Equity brokers and provides
securities lending services
Fixed Income: Primary dealer of US Treasuries and market maker in Federal
Agency and Mortgage-Backed Securities
Futures: Largest Japanese Futures Commission Merchant (FCM)
MSUSA, as a member of Mizuho Securities Group, has a strong business
relationship with other securities affiliates located in Japan, in the
United Kingdom and in Hong Kong. At the same time, as a member of one of
the largest financial groups in the world, Mizuho Financial Group, MSUSA
has a strong relationship with Mizuho Corporate Bank, which can provide
banking services to our customers. For further information, please contact
Eric Tarlow, General Counsel, eric.tarlow@us.mizuho-sc.com.
Press Contact:
Tony DeMeo
Broadridge
+1 212 918 6919 (U.S.)
Email Contact