Sell-Side Technology Awards 2017: Best Outsourcing Provider to the Sell Side—Broadridge Financial Solutions

Broadridge’s outsourcing platform allows its sell-side clients to outsource processing for both real-time deals and post-trade reporting, automating the whole securities transaction lifecycle. Clients have access to desktop productivity tools, data-aggregation systems, performance reporting platforms, and portfolio management offerings. These tools, according to the vendor, help users efficiently and cost-effectively consolidate their books, gather and service assets under management, and manage risk so that they can focus on their core business needs.

Lake Success, NY-based Broadridge offers a range of business-process outsourcing services, including securities clearing, asset servicing, securities lending, and reconciliations, as well as client onboarding and tax and regulatory reporting functions. Sell-side firms also use Broadridge to support their collateral management, revenue and expense management, performance analytics and reporting, and workflow functions. The platform is used in over 70 countries and offers multi-currency solutions for equity, mutual fund, foreign-exchange and fixed-income securities. The company is proud of its 99.995 percent availability and uses IBM data centers to guarantee that availability.

Broadridge, which serves the front, middle, and back offices, has also been working on projects to enhance its offerings to the sell side and help those firms better deal with their buy-side clients. As an example, Broadridge launched its Global Post Trade Management (GPTM) service in May of last year to help streamline bank and broker-dealer operations. Charlie Marchesani, president of global technology and operations at Broadridge, told Waters at the time that the rationale for the rollout was that clients were looking for ways to rationalize their many technology platforms—both internal systems as well as reducing their vendor-usage footprints.

 “They’re using multiple systems to be able to process in those multiple geographies. They want to have one enterprise solution that will give them a common user experience, a common view of their data, a common view of their risk and their positions, and that is what GPTM allows them to do,” Marchesani said. 

The company recently announced acquisitions relating to regulatory transaction reporting and post-trade control solutions, as it looks to beef up its offerings ahead of the upcoming Mifid II regulation in January 2018. One such deal was the acquisition of Message Automation in March this year, while in April, it was involved in a pilot test using blockchain technology for proxy voting, and has also released a new tax platform that allows securities brokers and dealers to better manage tax reporting requirements.