Broadridge Adds TwoFour Systems in FX, Cash Management Play

TwoFour Systems provides front-to-back solutions for FX, exchange-traded futures and options, metals, interest rate derivatives and money market instruments, as well as intra-day aggregation and reporting of balances and cash flows.

TwoFour Systems will be rebranded under the name Broadridge FX and Liquidity Solutions and will operate within Broadridge's global technology and operations division.

With this acquisition, Broadridge intends to address the rising demand for advanced FX and cash management technology among financial institutions and will integrate the technology with its reconciliations and matching technologies.

"TwoFour's technology, market strategy and high-touch, client-centric approach directly align with Broadridge's mission to help financial institutions mutualize costs and increase efficiencies, and we are thrilled to become part of the Broadridge family," says Steve Davis, general manager of Broadridge FX and Liquidity Solutions and former CEO of TwoFour Holdings. "As part of Broadridge we are better-positioned than ever to enable banks, payment companies and broker-dealers around the world to use this flexible and dynamic offering to capitalize on the opportunities in the foreign exchange markets."

Strategic Acquisition
The acquisition is in line with Broadridge strategy to expand its business and broaden its portfolio of multi-asset class solutions.

"It is one of the latest developments in our ongoing tuck-in acquisition strategy, which continues to bring innovative technologies to our clients and strong internal rates of return to Broadridge," says Richard Daly, Broadridge president and chief executive officer.