Broadridge Financial Solutions partnered with Symphony to integrate secure messaging technology into its NYFIX Matching platform, enhancing communication between asset managers and executing brokers.
The integration allows asset managers to communicate directly with brokers via Symphony’s secure messaging system, improving compliance, transparency, and the resolution of post-trade discrepancies. This marks the first instance of a post-trade matching tool incorporating messaging capabilities, addressing a longstanding industry need.
Developed in response to client feedback, the new functionality aims to accelerate and simplify broker communication. It is now available to all NYFIX customers.
George Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions, commented: “By integrating Symphony’s messaging functionality, we are enabling clients to resolve post-trade inaccuracies faster and with greater ease, ultimately enhancing operational efficiency. This is the latest example of simplifying the client experience with innovative solutions to meet their evolving needs and help them better operate, innovate and grow.”
Brad Levy, CEO of Symphony, added: “As the financial industry advances towards workflow digitization, it has become increasingly reliant on modern, secure, and interoperable collaboration tools to mitigate?risks and increase efficiencies. Through this collaboration, we are able to accelerate trade flows and improve real-time transactional accuracy for Broadridge’s clients.”
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