LAKE SUCCESS, NY -- (MARKET WIRE) -- 01/14/09 --
Broadridge Financial Solutions, Inc.
(NYSE: BR) today announced that Instinet Europe Ltd, the European brokerage
subsidiary of Instinet Incorporated, a global leader in electronic trading
and agency-only brokerage services, has selected Broadridge's Gloss
international securities processing solution.
Gloss is a real-time, multi-currency, transaction processing and record
keeping solution for post-execution processing of securities. It automates
the trade processing lifecycle from trade capture through to confirmation
and settlement to provide the highest levels of straight-through-processing
and efficient and timely exception management. It will be used on an ASP
basis, for Instinet's pan-European equity operations.
Gloss will receive executed transactions from Instinet's proprietary middle
office system. It will handle confirmations, central counterparty netting,
position management, profit and loss, settlement and trade accounting, with
market interfaces for settlement and reporting.
As part of the Gloss package, Instinet will use Gloss' new browser enabled,
proactive exception management facility. Its institutional clients will
also have access to Gloss for trade and settlement reporting and MIS,
enabling Instinet to deliver customer service enhancements.
"Gloss will provide us with a highly functional, scalable and robust
platform across our European business. It provides us with a low-risk and
proven solution for our pan-European securities operations," said Clive
Triance, Chief Operating Officer, Instinet Europe Ltd.
"We are privileged that Instinet has selected Gloss for its securities
processing and look forward to helping them meet their European business
requirements," said Elizabeth Lake, President, Securities Processing
Solutions, International, Broadridge Financial Solutions Ltd.
This agreement follows a previous Gloss implementation for Instinet's Asia
Pacific business for books and records processing in Hong Kong. Instinet
also uses Broadridge's processing solutions in its North American
operations.
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.
Media Contacts:
Public Relations Firm of Record
Jennifer ConnellyJC Public Relations, Inc.
+1 (973) 732-3521
Email Contact
Broadridge Contact
Mike West
Vice President, International Marketing
Broadridge Financial Solutions, Ltd.
+44 (0)20 7551 3224
Email Contact