(Editor’s note: Last month, the SEC passed a set of amendments and new rules that make possible an industry-wide move from the current trading day plus two (T+2) settlement cycle to the shorter, one-day, T+1 time frame for U.S. equity markets. The SEC also endorsed a compliance date of May 28, 2024, for the start… Read More >>
Broadridge’s DLR Handles $31B in Repos Daily
Post-trade systems and services provider Broadridge Financial Solutions officially launched on June 7 its distributed ledger repo (DLR) platform for bilateral repo trades that executed $31 billion in average daily volume during its first week. The blockchain-based transaction platform helps market participants “agree, execute and settle repo transactions,” officials say. Broadridge is hoping that the… Read More >>
Broadridge & SWIFT Help Clients Use Public Clouds
At the SWIFT SIBOS conference in London, Broadridge Financial Solutions announced that its Global Asset Servicing Solution has been made available via Amazon Web Services, Inc. (AWS) and announced the release of a cloud-based data control solution suite. At the same time, SWIFT officials will be facilitating clients that want to move to public… Read More >>
Broadridge Buys Northern Trust’s DLT Platform for Private Equity
Broadridge Financial Solutions has purchased a distributed ledger technology (DLT) platform developed by Northern Trust for private equity asset servicing, and plans to develop a system that will offer additional capabilities for PE activities. “Broadridge is expanding its footprint in the asset management industry and the PE industry is ripe for disruption,” a Broadridge spokesperson… Read More >>
Legacy IT Puts the Brakes on AI: Report
According to a recent survey, Wall Street’s financial technology end-users are increasingly turning to AI, or artificial intelligence (also known as machine learning), to transform their operations through algorithms and computer code. That is one of the bottom-line findings from the “2019 Artificial Intelligence Outlook,” a survey conducted by Broadridge Financial Solutions Inc. Another survey… Read More >>
Prattle Acquisition Adds to Liquidnet’s A.I. Line-Up
Prattle Purchase Follows Related Liquidnet Acquisitions Liquidnet, an institutional trading network provider, has acquired Prattle, an automated investment research solutions vendor, in a bid to further expand the Liquidnet artificial intelligence (AI) investment analytics platform, officials say. Prattle was launched in 2014 by former academics Evan Schnidman and Bill MacMillan, and provides predictive analytics… Read More >>
Broadridge Grows Canadian Business via RPM Purchase
Post-trade systems and services provider Broadridge Financial Solutions, Inc., is bolstering its Canadian wealth management business by acquiring RPM Technologies, a Toronto-based enterprise wealth management software solutions and services vendor, for approximately $300 million from RPM’s owner private equity firm Bayshore Capital Inc. Broadridge reports that it has signed a purchase agreement to acquire RPM’s… Read More >>
Voters Reward Disruptive & Established Providers via FTF Awards
NEW YORK CITY — A mix of disruptive and established technology providers have made the winner’s circle of the FTF News Technology Innovation Awards (the FTF Awards), which Financial Technologies Forum (FTF) is revealing today. For instance, for the Best Artificial Intelligence (A.I.) Initiative, the winner is Synechron while TCS BaNCS and its Quartz effort… Read More >>
Broadridge Acquires Rockall Technologies
Broadridge Financial Solutions has taken a major step to expand its front-to-back wealth management capabilities via the acquisition of Rockall Technologies, a provider of securities-based lending (SBL) and collateral management solutions for wealth management firms and commercial banks. Rockall’s collateral management technology targets financial institutions that need to “improve the performance of wealth, retail, commercial… Read More >>
Broadridge Readies Mobile App for Proxy Voting
Post-trade systems and services provider Broadridge Financial Solutions is readying a mobile app for retail investors that is intended to improve investor participation in the proxy process. The vendor is saying that with the new app, slated to go live this week, investor voting will be easier because the new app will create “an intuitive,… Read More >>
