Broadridge Adds Derivatives Clearing to its Post Trade Management System
Through this acquisition, Broadridge Global Post Trade Management will facilitate central clearing for exchange-traded derivatives, which encompasses connectivity to global clearing houses and exchanges through its global, multi-asset class post-trade solution. Terms of the deal were not disclosed.
Dojima’s solution, rebranded as Broadridge Derivatives Clearing, a component of GPTM, offers a modern, multi-asset multi-tenant clearing and connectivity platform for exchange-traded and cleared OTC derivatives. Its real-time, rules driven, auto-clearing facilities allow trades to flow seamlessly from global clearing houses to clearing members through to end-clients within seconds. It provides a highly flexible interface that accelerates time to market while addressing the rapidly-changing and complex requirements of derivative reforms. Following Broadridge’s recent strategic alliance with The Technancial Company to provide margin calculation capabilities, this deal completes the creation of a best-of-breed clearing solution for exchange-traded derivatives.
“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,” said Tom Carey, president, Global Technology and Operations International, Broadridge.
“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,” Carey said.
Nachi Muthu, Head of Derivatives Trading and Clearing Solutions, Global Technology and Operations, International at Broadridge and former CEO of Dojima, said: “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.”
Broadridge’s Global Post Trade Management can be deployed as a technology platform or fully outsourced managed service, delivering operational and technological functions from trade capture through matching and confirmation, clearance and settlement, cash management, reconciliations, asset servicing, books and records, accounting and regulatory reporting.
Broadridge Financial Solutions, Inc. (NYSE: BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge’s investor communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge’s infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 7,400 full-time associates in 14 countries. For more information about Broadridge, please visit www.broadridge.com.
Upstart exchange has seen market share increase to near 4%.
Goldman Sachs Asset Management’s fundamental equity business manages over $20bn in thematic equities.
Data extraction and integration is the second stage of a digitization process.
With Ankit Mittal, Business Change Manager, Global Trading, Schroders
IIGCC and lead investors will launch a pilot with companies including BP, Eni, Repsol, Shell and Total.