In a move to combat the escalating threat of cyberattacks, Broadridge Financial Solutions (NYSE: BR) has launched a suite of operational resilience services tailored for international post-trade processing.

Announced today (Tuesday), these solutions are designed to help financial firms navigate the looming compliance deadline of the European Union's Digital Operational Resilience Act (DORA), set to take effect in January 2025.

Broadridge Introduces Enhanced Operational Resilience Solutions Amid Rising Cyber Threats

The new offerings are available to existing users of Broadridge’s International Post-Trade processing solution and can also be integrated into other firms' internal systems.

Danny Green, Head of International Post-Trade Solutions at Broadridge, emphasized the urgency of compliance, stating, “The DORA compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term deadline is just three months away, and the clock is ticking.” He warned that failure to comply could lead to heightened risks of cyber incidents and potential reputational damage.

“It is vital that firms are advancing their plans for the timely completion of both in-house and third-party system reviews, and that they have a robust strategy to meet their prescribed recovery time objectives (RTOs) for their operating model,” Green added.

Broadridge's operational resilience solutions include several key features:

• Professional Services: The company offers specialized expertise to evaluate and enhance firms' risk management frameworks. This includes identifying vulnerabilities and validating risk controls.
• High-Availability Recovery: Broadridge provides backup environments that meet regulatory requirements for distance from primary sites, significantly reducing recovery times from hours to minutes in case of cyber incidents.
• Enhanced Cyber-Recovery Capabilities: The solution incorporates secure, immutable storage systems that create unalterable backups of critical data. In the event of a cyber-attack, these copies can be quickly restored, facilitating efficient system recovery.

The company’s solutions aim not only to mitigate risks but also to support firms in maintaining business continuity amid evolving regulatory landscapes.

Broadridge Expands Offerings to Enhance Financial Operations

Last week, Americas Executions (AmerX) adopted Broadridge's Securities Finance and Collateral Management (SFCM) platform to support its newly launched securities lending business. This platform is designed to streamline operations by providing comprehensive tools for collateral management, trade lifecycle management, and risk assessment.

In September, Broadridge made headlines by securing a Tier-1 Canadian bank as the first adopter of its Distributed Ledger Repo (DLR) platform for managing High-Quality Liquid Assets (HQLA). This milestone not only underscores the growing acceptance of Distributed Ledger Technology (DLT) Distributed Ledger Technology (DLT) A distributed ledger or distributed ledger technology (DLT) is a database that is shared and synchronized across a number of different devices in different locations. DLT networks effectively eliminate the need for a centralized authority to act as the network’s custodian. In its place is a Peer-to-Peer (P2P) network as consensus algorithms to ensure replication across nodes is undertaken.The most common kind of distributed ledger network is a blockchain network. Blockchain networks are used to A distributed ledger or distributed ledger technology (DLT) is a database that is shared and synchronized across a number of different devices in different locations. DLT networks effectively eliminate the need for a centralized authority to act as the network’s custodian. In its place is a Peer-to-Peer (P2P) network as consensus algorithms to ensure replication across nodes is undertaken.The most common kind of distributed ledger network is a blockchain network. Blockchain networks are used to Read this Term in financial operations but also promises to simplify workflows and generate significant cost savings for the bank. The DLR platform has already achieved an impressive monthly volume of $1 trillion, marking a significant step in the evolution of treasury securities management.

Additionally, Broadridge's collaboration with YCharts in August further exemplifies its commitment to innovation. By integrating YCharts’ cloud-based investment research capabilities with Broadridge’s Wealth Aggregation platform, the partnership aims to enhance advisor practices through improved investment decision-making and client interactions