Broadridge Fully Automates Corporate Action and Dividend Events, Managed Through Euroclear CREST

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) announced on October 25, 2022, the automation of Corporate Action and Dividend events for clients using the Euroclear CREST platform. This innovation streamlines processes, reduces human error, and offers cost savings for financial institutions. The new service facilitates event creation, payment processing, and settlement, enhancing operational efficiency. Broadridge's comprehensive end-to-end solution bolsters market connectivity and ensures systematic management of CREST-specific events.

Positive

• Launch of automated Corporate Action and Dividend event processing enhances operational efficiency.
• Significant cost savings anticipated for clients through reduced complexity and human error.

Negative

• None.

NEW YORK, Oct. 25, 2022 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, announced today that it will enable clients to better automate the processing of Corporate Action and Dividends events managed through the Euroclear CREST platform. The new solution capabilities further enable financial institutions to simplify and automate their corporate actions processing while reducing the risk and complexity across their business. This service includes event creation, instruction management and payments processing and settlement, thereby reducing risk associated with human error and providing significant cost savings for clients.

"This new offering is the latest example of Broadridge driving market innovation through automation across the corporate actions industry," said Michael Wood, Head of Asset Servicing, Broadridge. "Broadridge Global Asset Servicing is the only solution to provide full end-to-end processing automation, real time connectivity to clients' position management systems, market data sources and now direct market infrastructure connectivity. These developments, coupled with the advanced event processing automation, straight-through-processing and client facing capabilities further enhance Broadridge Global Asset Servicing as the most comprehensive end-to-end corporate actions management solution in the market."

The program will provide common members of both CREST and Broadridge Global Asset Servicing the ability to source CREST event data as part of the announcement capture process, in turn, facilitating the automation of instructions, increasing straight-through-processing rates, and minimizing the risks associated with manual instructions. This includes the handling of the time sensitive buyer protection process or "ACON" specific to the UK Market. In addition, the systematic management of transformation and payment unique to the CREST platform is fully supported, providing full control over the booking and settlement of entitlements across event types for the Broadridge client.

About Broadridge

Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with more than $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 that drive business transformation for 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. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion in equities, fixed income, and other securities globally. A certified Great Place to Work^®, Broadridge is part of the S&P 500^® Index, employing over 14,000 associates in 21 countries.

For more information about Broadridge, please visit www.broadridge.com.

Broadridge Contacts:

Investors:
Edings Thibault
Head of Investor Relations, Broadridge
+1 516-472-5129
Edings.Thibault@Broadridge.com 

Media:
Gregg Rosenberg
Corporate Communications
(212) 918-6966
Gregg.Rosenberg@broadridge.com 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the latest announcement from Broadridge (BR) regarding Corporate Actions?

Broadridge announced the automation of Corporate Action and Dividend events through the Euroclear CREST platform, improving processing efficiency.

How does Broadridge's new solution benefit its clients?

The new solution reduces complexity, minimizes human error, and provides significant cost savings for financial institutions.

When was the announcement about Broadridge's automation made?

The announcement was made on October 25, 2022.

What are the key features of Broadridge's automated solution?

Key features include event creation, instruction management, payment processing, and systematic management of CREST-specific events.

How does Broadridge (BR) drive innovation in the financial sector?

Broadridge drives innovation by automating processes within the corporate actions industry, enhancing market connectivity and operational efficiency.