Broadridge Financial Solutions, a provider of investor communications and technology-driven solutions for broker-dealers, banks and mutual funds, has announced that AxiCorp has selected its reconciliation solution for the automation of reconciliations and investigations for its global operations.
The partnership with AxiCorp follows Broadridge’s recent announcement that it had acquired M&O Systems, Inc. to help expand its wealth management and U.S. Department of Labor (DOL) Fiduciary Rule compliance capabilities.
Axicorp is a provider of margin foreign exchange trading services for the retail and institutional markets. Broadridge’s solution, which supports front- to back-office reconciliations across the trade lifecycle, will connect AxiCorp’s trading platforms to Broadridge’s FX & Liquidity (FXL) post-trade processing platform.
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Broadridge’s reconciliation platform helps us to achieve an increase in automated operational efficiency.
The reconciliation solution is part of Broadridge’s portfolio of processing solutions which allow firms to manage their operational complexity as well as minimising their overall risk. It helps financial services organisations through automated detection of trade exceptions and increases the efficiency and accuracy of identifying and resolving inaccurate or missing transaction records for FX and FX Swap transactions.
David Becker, Head of Asia Pacific at Broadridge, commented: “Firms like AxiCorp are continually optimizing and improving their operational efficiencies, risk management processes and operational infrastructure requirements to support their business expansion strategies. The combined power of Broadridge’s world-class reconciliations platform and FXL’s processing capabilities continues to give AxiCorp a platform to grow its global business whilst enhancing its operational effectiveness.”
Simon Turner, CIO and Head of Operations at AxiCorp, added: “At AxiCorp, we support efforts to reduce risks. We are aware that effective risk management is an essential element of the integrity of our business.The selection of Broadridge’s reconciliation platform helps us to achieve this increase in automated operational efficiency and effectiveness in our daily operations.”