LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--
Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that 2010
was a record year for client implementations of its industry-leading
fixed income securities processing platform. Eleven new banks and
brokerage firms chose Broadridge because of the expansiveness of its
fixed income processing platform, the speed and efficiency with which
Broadridge brings clients onto the system, and its enhanced data
security.
When firms outsource to Broadridge through a BPO or ASP model, firms can
cost-effectively expand and transform their business. With Broadridge’s
scalable platform they can go to market with new fixed income
capabilities quicker, manage risk more effectively and support
regulatory reporting requirements more easily.
In November 2010, KeyBank Capital Markets expanded its outsourcing
relationship with Broadridge with the implementation of the firm's
mortgage-backed securities processing engine, known as MBS Expert®.
Within 16 weeks, KeyBank was live on the system. “We selected the MBS
Expert product for two reasons: 1) as a Broadridge client for equities
processing we were very satisfied with the firm's high level of service
and support and, 2) because Broadridge was the first firm to
successfully test centralized counterparty netting with the FICC. Of
course, any opportunity to reduce risk is a welcome opportunity. KeyBank
Capital Markets signed up for this product to net our trades on a daily
basis with FICC, thus allowing us to significantly reduce counterparty
risk,” said Paula Janofsky, Director of Operations, KeyBank.
Today, Broadridge processes an average of 300,000 fixed income trades
per day, with a notional value in excess of $3 trillion, representing
approximately 50% of the total fixed income trading volume generated by
all primary dealers. "Our market leadership in the fixed income sector
is evidence of our ongoing commitment to being an indispensable partner
to our clients. We consistently look to grow our ASP and BPO
capabilities and align them with our clients' strategic priorities,”
said J. Michael Hopkins, President, Fixed Income Processing Solutions,
Broadridge. “Our mission is to assist our clients and other industry
participants solve for key capital market concerns.”
Broadridge has more than 40 years of experience in providing technology
and outsourcing solutions to the global financial services industry.
Fixed income processing represents one of the fastest growing sectors of
Broadridge’s expanding range of global BPO services which enable
financial services firms to cost-effectively expand and transform their
business. Economies of scale are achieved through Broadridge’s on- and
off-shore processing resources. In addition, Broadridge’s BPO services
include an experienced team with extensive industry knowledge and
best-in-class performance levels.
Firms using Broadridge’s solutions are able to minimize their risk by
leveraging an industry-leading infrastructure that includes Tier
Three-plus data centers and global support structure, IT services with
robust capacity, and performance and disaster containment.
About Broadridge
Broadridge is a technology services company focused on global capital
markets. Broadridge is the market leader enabling secure and accurate
processing of information for communications and securities transactions
among issuers, investors and financial intermediaries. Broadridge builds
the infrastructure that underpins proxy services for over 90% of public
companies and mutual funds in North America; processes more than $3
trillion in fixed income and equity trades per day; and saves companies
billions annually through its technology solutions. For more information
about Broadridge, please visit www.broadridge.com.
Source: Broadridge Financial Solutions, Inc.