Broadridge Financial Solutions, Inc. (NYSE:BR), a provider of business intelligence for the asset management community, has announced that its platform solution has been chosen by the hedge fund Whitebox Advisors to help with managing its front and back-office operations.
The trading industry is always on the lookout for innovative solutions that will help reduce the burden on fund advisors so that they can make better and more informed decisions. Whitebox Advisors hopes that the platform provided by Broadridge will serve that purpose.
The Broadridge platform provides all the required trading, data management and reporting functions that a trader and advisor has to deal with in one place, and also provides risk management tools that supplement trading.
The platform also helps with portfolio management and reconciliation of trading and customer data, which in turn helps to streamline the workflow.
Eric Bernstein, President of Broadridge asset management solutions, said: “We are excited to be providing Whitebox an integrated solution to help support its platform based on best-of-breed components. We have strategically built a unique integrated and hosted solution helping clients simplify their infrastructure, decrease operational risk and lower their total cost of ownership.”
Broadridge also recently onboarded institutional data specialist Spence Johnson in a bid to improve data and analytics solutions for institutions, and Whitebox hopes to use these solutions to improve the operational efficiency on its side which will in turn help to improve its margins.