Broadridge Financial Solutions, Inc. (NYSE:BR), a provider of investor communications and solutions for the financial services industry, has had its ETF trading and portfolio management platform onboarded by China Post Global, per a recent Broadridge statement.
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China Post Global (China Post & Capital Global Asset Management Limited) is an international asset management arm of China Post & Capital Fund Management Co., Ltd, which has aimed to fortify its exchange-traded-funds (ETF) capabilities via the deployment of Broadridge’s Market Access ETFs. Market Access ETF. Broadridge boasts a robust offering for ETF services, including its FDI (Fund Distribution Intelligence), effectively aggregating ETF assets across almost one thousand distributors.
As part of the new arrangement, China Post Global will gain access to the ETF solution, in addition to the management of its ETF products globally by Broadridge across the China fund distribution network. ETF trading in China has seen a frenetic rise in Q1 2016, which has also been the case in other blocs such as the United States.
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The adoption of Broadridge’s capabilities are important as they will help streamline the overall management, set-up, tracking, and mark-to-market of the assets making up the synthetic ETFs in the region – the accord also builds on a previous collaboration, following China Post Global’s utilization of Broadridge’s SWIFT service bureau.
According to Chris Satterfield, Chief Executive Officer (CEO), China Post Global, in a recent statement on the adoption: “After acquiring the Market Access ETF range from Royal Bank of Scotland, a rapid and smooth transition was a key focus for us. Broadridge was able to natively and seamlessly support our synthetic ETF workflows, while on-boarding us in less than one month. We see Broadridge as a reliable long-term partner that can scale with us as we grow.”
“ETF markets in Hong Kong and China are outperforming peers in the broader Asian ETF market, which is still at a relatively early stage of development with less than 10 percent of global market share,” noted Bennett Egeth, President of Broadridge Investment Management Solutions, in an accompanying statement.
Broadridge recently made headlines last week after acquiring Dojima LLC, a niche technology company, to enhance its Global Post Trade Management (GPTM) solution. The initiative also was aimed at fortifying its ETF capabilities, which also will aim to streamline Broadridge’s central clearing capabilities.