The Stockholm-based bank is completing a front-to-back-office “streamlined system” for international and domestic trading.
Skandinaviska Enskilda Banken (SEB) is deploying an international post-trade processing solution from Broadridge Financial Solutions in an effort to streamline its securities business across international and domestic markets, officials say.
Based in Stockholm, Sweden, SEB is “a long-time user of Broadridge’s front and middle office solutions for order management, trade execution and allocation,” according to Broadridge.
With the new deployment, the firm will have “a strategic front-to-back-office streamlined system” intended to improve trading workflows and operations across global markets via “greater efficiency, scalability, and resilience throughout the securities trade lifecycle,” officials say.
“As a leading European bank with operations in more than 20 countries, and servicing a global client base, it was important for us to partner with a technology partner that can enable our global post-trade operations to be best in class,” says Kristian Gårder, co-head of equities at SEB, in a prepared statement.
Gårder adds that the business relationship with Broadridge “has enabled us to advance from discrete, asset-specific systems to a unified and strategic solution that delivers increased simplification, frictionless workflow efficiency, real-time business-wide management controls, and the ability to respond effectively to new market requirements and our customers’ evolving needs.”
“In today’s markets, investing in post-trade efficiency is of paramount importance, and leading firms such as SEB are now in a stronger position to tackle the combined challenges of shrinking settlement periods, regulatory change, and client service differentiation while optimizing cost/income ratios and reducing risk,” says Danny Green, head of international post-trade solutions at Broadridge, in a statement.
SEB offers corporate and investment banking to institutional clients in Denmark, Finland, Norway, Germany, and the United Kingdom. The bank has a presence in more than 20 countries worldwide, and approximately 18,000 employees, officials say.
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