LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--
Broadridge Financial Solutions, Inc. (NYSE:BR) today announced the
launch of its post-execution processing solution for prime brokers and
investment banks. Based on the market leading multi-currency trade
processing and settlement platform, Gloss, the new solution offers
international transaction settlement and real-time custody and financing
services, enabling firms to boost reporting transparency and increase
efficiency of operational processes.
Gloss' new capabilities allow prime brokers to offer full settlement
services to buy-side investment firms and hedge funds, automating
security and currency transaction processing, enabling firms to manage
books and records in real-time and facilitating efficient asset
servicing. In addition, the solution offers clients global multiple
central securities depository (CSD) connectivity. As multi-asset
functionality becomes increasingly important in the fund industry, Gloss
is well-placed to help prime brokers extend their services, expanding
the number of products they can offer and their geographical reach,
through a single consolidated platform.
Additionally, in order to provide current insights into the prime
brokerage market and its associated IT requirements, Broadridge has
sponsored an independent study by the research and consulting firm,
Celent, entitled "New Basis for the Hedge Fund / Prime Broker
Relationship". The white paper can be accessed via www.broadridge.com/intprime.
Paul Clark, Senior Strategy and Product Manager, Securities Processing
Solutions, International, Broadridge, said: "As activity and complexity
in the fund industry continues to increase and the multi-prime model
expands, prime brokers need one technology platform that offers their
clients an efficient back/middle office solution. It needs to ensure
transparency in reporting and operational efficiency as well as
supporting their customers' business growth into new asset classes and
markets. The Gloss prime brokerage solution is another step forward in
our strategy to offer extended services to our clients on our single
multi-asset platform."
Proven in the market, Gloss has a strong pedigree and the new prime
brokerage capabilities are already live with one client, a tier-one
international investment bank and financial services firm. Available
now, worldwide, clients can opt to use the full Gloss suite for
multi-asset processing. Alternatively, Broadridge offers discrete
services for firms wishing to use specific functional capabilities such
as custody. The Gloss solution is available on an ASP service bureau
basis, or as an on-site licensed solution.
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.
About Celent
Celent is a research and consulting firm focused on the application of
information technology in the global financial services industry. The
firm has two basic offerings:
-- Research, providing members with continuous knowledge and advice
-- Consulting, working with clients on specific strategy issues.
Celent's analyst team is organized by financial services industry
vertical: Banking, Securities & Investments, as well as Insurance. These
analysts produce monthly research reports for our members, and are
available to members to further explore issues and questions that may
arise. For more details: www.celent.com.
Source: Broadridge Financial Solutions, Inc