Broadridge to Bolster Prometheum's Digital Asset Securities Infrastructure

Monday, 29/04/2024 | 14:00 GMT by Damian Chmiel
  • Both companies want to enhance post-trade operations for digital asset securities.
  • The collaboration aims to bridge TradFi and the emerging digital securities market.
Broadridge

Prometheum Capital has announced a strategic partnership with Broadridge Financial Solutions (NYSE: BR) to bolster its post-trade lifecycle and back-office operations. The firm gears up to introduce a custody, clearing, and settlement services suite for digital asset securities.

Prometheum Partners with Broadridge to Enhance Post-Trade Operations

Prometheum will leverage Broadridge's Shadow Post Trade Processing Solution and Business Process Outsourcing tools. These solutions encompass a wide range of capabilities, including bookkeeping, trade capture, reconciliations, and regulatory reporting.

"Collaborating with Broadridge is a pivotal step in our business strategy,” Benjamin Kaplan, the CEO of Prometheum, stated. “Their support is instrumental in advancing our mission of creating a well-regulated and efficient ecosystem for digital asset securities."

This partnership follows several significant achievements for Prometheum in 2024, such as the appointment of Albert P. Meo as the CFO and the company's declaration of its intent to offer ETH custodial services. Prometheum plans to initiate its custodial services within this quarter.

“By combining our expertise with Prometheum's vision, we are empowering investors and businesses while shaping the future of the financial industry,” added Zachary Dea, the Director and Head of Product for the Shadow Post Trade Processing Solution at Broadridge.

Since its inception in 2017, Prometheum has been actively engaged in the cryptocurrency arena. Within the first twelve months of its operations, the company launched the first SEC-compliant ICO trading platform .

Broadridge and the Digital Assets Market

Broadridge has also made significant inroads into the cryptocurrency, digital assets, and blockchain technology sectors. Notably, in 2022, the company forged a strategic partnership with Coinbase. This collaboration aimed to enhance interoperability between Coinbase Prime and Broadridge's Trading and Connectivity Solutions' NYFIX order-routing network. The partnership was designed to bolster the crypto market by improving liquidity and expanding access to crypto trading opportunities.

Furthermore, in 2021, Broadridge unveiled the latest iteration of its Private Market Hub platform. This platform is underpinned by the Amazon Managed Blockchain from Amazon Web Services, underscoring the pivotal role of blockchain in the evolution of financial technologies.

Prometheum Capital has announced a strategic partnership with Broadridge Financial Solutions (NYSE: BR) to bolster its post-trade lifecycle and back-office operations. The firm gears up to introduce a custody, clearing, and settlement services suite for digital asset securities.

Prometheum Partners with Broadridge to Enhance Post-Trade Operations

Prometheum will leverage Broadridge's Shadow Post Trade Processing Solution and Business Process Outsourcing tools. These solutions encompass a wide range of capabilities, including bookkeeping, trade capture, reconciliations, and regulatory reporting.

"Collaborating with Broadridge is a pivotal step in our business strategy,” Benjamin Kaplan, the CEO of Prometheum, stated. “Their support is instrumental in advancing our mission of creating a well-regulated and efficient ecosystem for digital asset securities."

This partnership follows several significant achievements for Prometheum in 2024, such as the appointment of Albert P. Meo as the CFO and the company's declaration of its intent to offer ETH custodial services. Prometheum plans to initiate its custodial services within this quarter.

“By combining our expertise with Prometheum's vision, we are empowering investors and businesses while shaping the future of the financial industry,” added Zachary Dea, the Director and Head of Product for the Shadow Post Trade Processing Solution at Broadridge.

Since its inception in 2017, Prometheum has been actively engaged in the cryptocurrency arena. Within the first twelve months of its operations, the company launched the first SEC-compliant ICO trading platform .

Broadridge and the Digital Assets Market

Broadridge has also made significant inroads into the cryptocurrency, digital assets, and blockchain technology sectors. Notably, in 2022, the company forged a strategic partnership with Coinbase. This collaboration aimed to enhance interoperability between Coinbase Prime and Broadridge's Trading and Connectivity Solutions' NYFIX order-routing network. The partnership was designed to bolster the crypto market by improving liquidity and expanding access to crypto trading opportunities.

Furthermore, in 2021, Broadridge unveiled the latest iteration of its Private Market Hub platform. This platform is underpinned by the Amazon Managed Blockchain from Amazon Web Services, underscoring the pivotal role of blockchain in the evolution of financial technologies.

Topics
Broadridge Financial Solutions
digital assets
Broadridge
About the Author: Damian Chmiel
Damian Chmiel
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Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.

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