Broadridge Financial Launches Global Post Trade Management Solution

US-based financial markets Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term, Broadridge Financial Solutions, Inc. (Broadridge), which helps process $5 trillion in equity and fixed income trades daily and is listed on the NYSE under ticker BR, today announced the introduction of its Global Post Trade Management (GPTM) solution, according to an official company press release.

The GPTM product was described as a next-generation offering that helps investment banks and broker-dealers realize both cost and operational efficiencies in the existing post-trade business models, by streamlining their operations across asset classes and improving financial and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term as well as their regulatory compliance capabilities.

Streamlining appeal

According to the update, the GPTM solution has already been on-boarded by a major investment bank. Aspects of the GPTM platform include that it serves as a consolidated enterprise platform that standardizes post-trade processing, and at the same time leverages a componentized technology architecture, and helps eliminate duplicative work that can result when firms use multiple systems. A diagram of the new product as seen on the product page on the company's website can be seen below:

As companies increasingly rely on legacy systems due to the passing of time and new techniques constantly emerging, they often use multiple providers or independent technology to handle different parts of their business, and any solution that helps streamline operations while saving on costs can be useful, as firms such as Broadridge aim to highlight with new product solutions.

Challenged participants

Commenting in the official press release, Charlie Marchesani, president, Global Technology and Operations at Broadridge, said: “Global investment banks are facing unprecedented regulatory and cost pressures and require solutions that allow them to consolidate duplicative operations, systems and processes to gain business efficiencies and improve profitability. GPTM is built on the foundation of Broadridge’s global capital markets expertise, and we view this as a truly transformative platform that helps financial institutions gain a significant operational advantage, removing multiple incumbent systems and complex deployments.”

The company serves clients in 14 countries and employs 7400 full-time associates and provides investor communication solutions such as proxy voting technology that power 90% of public companies and mutual funds in North America. The news comes barely a week after Broadridge unveiled a global solutions partner program, as covered by Finance Magnates in a related post.