Broadridge Financial Solutions, Inc. (NYSE: BR) has enhanced its Global Post Trade Management (GPTM) solution, acquiring Dojima LLC in a stroke to help augment its exchange-traded derivatives capabilities, according to a Broadridge statement.
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Dojima is a niche technology firm that provides trading, clearing, matching and connectivity solutions for institutional venues. Broadridge’s acquisition of Dojima will help push its GPTM’s exchange-traded derivatives functionality, which will aim to streamline central clearing capabilities – the terms of the transaction was not currently disclosed.
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Per the acquisition, Dojima’s solution will be rebranded as Broadridge Derivatives Clearing, and will serve as a primary component of GPTM. The newly fortified solution helps provide a multi-asset multi-tenant clearing and connectivity platform for exchange-traded and cleared over-the-counter (OTC) derivatives.
According to Tom Carey, President, Global Technology and Operations International, Broadridge, in a recent statement on the acquisition and expansion: “This strategic expansion of our futures and options offering is an important addition to our GPTM roadmap, enabling us to offer a broader, tightly-integrated global post-trade processing solution for investment banks and brokers.”
“It demonstrates the continuing, strong market traction of our solution globally, which in the last year included the adoption by leading brokers in North America, Japan and Germany. We are delighted to welcome the talented Dojima team, who has deep domain experience in this market,” Mr. Carey reiterated.
“Broadridge has been a leader in helping companies transform the breadth and economics of their operational models through global, seamlessly integrated post-trade processing solutions. We are pleased to join the Broadridge team, leveraging our multi-tenant, multi-currency and multi-asset class technology to help firms meet rapidly-evolving market and regulatory changes in the exchange-traded derivatives marketplace,” noted Nachi Muthu, Head of Derivatives Trading and Clearing Solutions at Broadridge and former CEO of Dojima, in an accompanying statement.