The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Broadridge Achieves a Record Year in 2010 for Fixed Income Processing Platform Implementations

Broadridge Financial Solutions today announced that 2010 was a record year for client implementations of its 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 centralised 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 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 minimise their risk by leveraging an industry-leading infrastructure that includes Tier Three-plus data centres and global support structure, IT services with robust capacity, and performance and disaster containment.

Related content

WEBINAR

Recorded Webinar: Best practice for Regulatory Change in 2021 and beyond

How to get regulatory change management right and avoid the risks of getting it wrong The burden of regulatory change on financial firms has never been greater, leaving compliance teams under increasing pressure to ensure that changes are reviewed and acted upon in a timely manner. Technology enhancements in this space can help, allowing firms...

BLOG

Trustworthy AI in Capital Markets

By Shameek Kundu, head of Financial Services at TruEra. The use of Artificial Intelligence (AI) is growing in capital markets. But the sector has work to do to capitalise on investment made, and this starts with making AI and machine learning (ML) models robust, transparent and fully accountable. Ensuring AI quality will be critical to...

EVENT

Data Management Summit Virtual

The Data Management Summit Virtual brings together the global data management community to share lessons learned, best practice guidance and latest innovations to emerge from the recent crisis. Hear from leading data practitioners and innovators from the UK, US and Europe who will share insights into how they are pushing the boundaries with data to deliver value with flexible but resilient data driven strategies.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...