First Abu Dhabi Bank (FAB) has selected Broadridge Financial Solutions to power its global agency securities finance business, marking an expansion of securities lending capabilities in the UAE and broader Middle East region. The partnership coincides with Broadridge's launch of a pioneering AI-powered algorithmic trading insights service.

Broadridge Powers FAB's Securities Finance Push

The collaboration with FAB introduces the region's first AWS SaaS deployment for securities finance, leveraging Broadridge's Securities Finance and Collateral Management (SFCM) solution.

This move positions FAB to enhance its global fixed income and equities market coverage while adhering to local regulatory requirements and international standards.

"The commitment of both FAB and Broadridge to bring innovative products and solutions to market and to simplifying and innovating trading," said Darren Crowther, Head of Securities Finance and Collateral Management, Broadridge. "This collaboration caters for the growing demand for securities lending and borrowing within the Middle East and is aligned both with local regulatory needs and with international best practices."

The deployment stands out as the region's first Amazon Web Services (AWS) Software-as-a-Service implementation for securities finance. FAB's initiative is expected to create opportunities for institutional clients seeking securities lending capabilities.

In the meantime, the company acquired the Kyndryl Securities Industry Services (SIS) platform to strengthen its position in the Canadian financial services sector. The acquisition is expected to expand Broadridge's offerings, focusing on enhanced solutions for wealth management and capital markets.

Launches AI Trading Service

In a parallel development, Broadridge has unveiled its AI-powered algorithm insights service for NYFIX, designed to change algo trading for asset managers and hedge funds. The service leverages AI technology to analyze public and private data, offering higher accuracy in dark pool liquidity mapping and algorithmic execution optimization.

“Algo traders will now have a quantitative, data-driven service to power critical trading decisions” said George Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions. “By harnessing the power of AI and historical insights, we’re giving our clients the tools they need to navigate complex markets with greater precision and confidence. This innovative solution not only optimizes trading strategies, but also reduces costs, making it an invaluable asset for the buy-side .”

The new NYFIX service incorporates decades of research from industry veterans Jeff Alexander and Linda Giordano, whose work at Babelfish Analytics established industry standards for routing dynamics and algorithm selection. Initially available for U.S. equities trading, Broadridge plans to expand the service across other asset classes and regions.

Moreover, LTX, Broadridge Financial Solutions' AI-powered trading platform, announced a partnership with e-trading technology provider TransFICC. The collaboration provides dealers with an integration pathway via TransFICC's One API for eTrading platform, aiming to streamline processes and address challenges in the fixed-income trading sector.