BayernLB Selects Broadridge for Regulatory Trade and Transaction Reporting

Rhea-AI Summary

Bayerische Landesbank (BayernLB) has selected Broadridge Financial Solutions, Inc. (NYSE:BR) to manage its regulatory trade reporting commitments. By adopting Broadridge's multi-asset class solution, BayernLB aims to streamline compliance with regulations such as SFTR, EMIR, MiFIR, and MMSR. This partnership will reduce operational costs and complexity while allowing BayernLB to focus on core activities. Broadridge's solution is designed to adapt to evolving reporting requirements, ensuring future compliance and efficiency gains for BayernLB.

Positive

• BayernLB will benefit from Broadridge's multi-asset class regulatory reporting solution.
• The solution will reduce operational costs and complexity for BayernLB.
• BayernLB can focus more on core activities and customer service.

Negative

• None.

NEW YORK, June 23, 2021 /PRNewswire/ -- To help streamline and consolidate all of its regulatory trade reporting commitments Bayerische Landesbank (BayernLB) has selected Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, to handle its regulatory trade and transaction reporting. BayernLB will utilize Broadridge's multi-asset class, multi-jurisdictional regulatory trade and transaction reporting solution to provide a single strategic solution to regulatory trade reporting commitments – including for SFTR, EMIR, MiFIR and MMSR.

In leveraging Broadridge's solution, BayernLB will also benefit from a consolidated, integrated data model that can be extended and adapted with ease to accommodate additional new reporting jurisdictions and changes to existing regimes. Additionally, it will reduce operational costs, risk and complexity, and enable the Landesbank, which is owned by the Free State of Bavaria and the regional Savings Banks, to concentrate efforts on core activities.

"Our customer relationships and commitment to service quality are what makes BayernLB special," said Peter Graml, Head Operating Office, Treasury Products Service at BayernLB. "We are very pleased that our decision to adopt Broadridge's trusted reporting solution not only delivers significant operational efficiency gains and positions us well for future change, but also enables us to dedicate an even higher proportion of our resources to developing customer service relationships and focus more of our attention on what makes us truly unique." 

"We are excited to help BayernLB with all of the industry's new and ever-evolving reporting requirements and to see this solution live in the German market," said Hugh Daly, Head of Capital Markets Data & Regulatory Solutions at Broadridge. "We are extremely proud that Broadridge continues to be the provider of choice for globally recognised financial institutions looking to streamline and de-risk their regulatory reporting process."

About Bayerische Landesbank

As a streamlined specialised bank, BayernLB is a major investment financier for the Bavarian and German economy. We are committed to progress. Our customers – companies, financial institutions, investors, savings banks and the public sector – are at the centre of our sustainable approach. As a stable and financially strong bank with international activities, we work efficiently and think long-term. We have long-standing experience and in-depth knowledge of the sectors in which our customers operate. We understand their business challenges for the future, offer solutions that match their needs and are partners on an equal footing – always cultivating reliable and trusting working relationships.

About Broadridge

Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $4.5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions to banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. In addition, Broadridge's technology and operations platforms underpin the daily trading of on average more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is a part of the S&P 500® Index, employing over 12,000 associates in 21 countries.

For more information about us and what we can do for you, please visit www.broadridge.com.

CONTACT: Gregg Rosenberg, gregg.rosenberg@broadridge.com

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the partnership between Broadridge and BayernLB about?

Broadridge is providing regulatory trade reporting solutions to BayernLB to streamline its compliance with various regulations.

What regulatory frameworks will Broadridge's solution help BayernLB with?

The solution will assist BayernLB with SFTR, EMIR, MiFIR, and MMSR reporting.

What benefits does Broadridge's solution provide to BayernLB?

It reduces operational costs and complexity while allowing BayernLB to focus on core activities.

What is the significance of the Broadridge partnership for its stock (BR)?

The partnership may enhance Broadridge's market position and operational efficiency, positively impacting its stock performance.

When was the announcement of the partnership between Broadridge and BayernLB made?

The partnership was announced on June 23, 2021.