The investor communications provider is now helping Bloomberg's agency brokerage begin self-clearing U.S. equities with its hosted business process outsourcing (BPO) solutions.
The cooperative agreement for Bloomberg and Broadridge ranges back to February 2012 and was established to provide an efficient and comprehensive back office function for Tradebook, which has sought to expand its settlement and clearance capacity in recent years in a bid to attract further institutional clients.
“Moving to self-clearing furthers Bloomberg Tradebook’s evolution from providing 'execution only' to offering 'execution everything,'" says Ray Tierney, president and CEO of Bloomberg Tradebook. “Broadening the services we can deliver to our clients enhances our value proposition and furthers our commitment to partner with our clients on both the buy-side and sell-side.”
Anthony and James take a look at the interdealer broker space and quickly hit on whether or not bitcoin ETFs are to come in the near future.Subscribe to Weekly Wrap emails