Broadridge Launches New Fill Matching Platform, Enabling Real-Time Reconciliation for High Volume Trading

Rhea-AI Summary

Broadridge Financial Solutions launches NYFIX Fill Matching platform for asset managers with high volume and/or high-touch orders.

Positive

• The NYFIX Fill Matching platform provides real-time reconciliation for asset managers, reducing trade discrepancies and streamlining the front-to-middle office environment.
• The platform ensures that brokers and asset managers are constantly in sync, minimizing end-of-day mismatches.
• The service allows asset managers to confidently allocate trades and move into the post-trade matching process.

Negative

• None.

NEW YORK, Oct. 17, 2023 /PRNewswire/ -- Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR), today announced the launch of the NYFIX Fill Matching platform, a new solution complimenting Broadridge's post-trade NYFIX Matching solution. NYFIX Fill Matching is a FIX based real-time reconciliation product designed for the needs of asset managers with high volume and/or high-touch orders. NYFIX Fill matching is the only platform that matches fills between brokers and asset managers in real-time.

"As the T+1 time compression makes end-of-day processing challenging, Broadridge's new Fill Matching Solution will rapidly identify trade discrepancies, enabling clients to address and fix these issues before the close of the trading day," said George Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions. "By reducing this key friction point, Broadridge is continuing to streamline and modernize the front-to-middle office environment for our buy-side clients."

The Fill Matching solution offers real-time reconciliation, ensuring that brokers and asset managers are constantly in sync, minimizing end-of-day mismatches. "Drop Copies", or execution reports, are sent from the brokers' front office platform and are matched against the fills received from the asset managers' system. The matching criteria is flexible and can be configured by the asset manager to meet their respective requirements. The service informs the asset manager that all fills received from the brokers have been processed and that they can confidently allocate their trades and move into the post-trade matching process.

About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with more than $6 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. $10 trillion of 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 us and what we can do for you, please visit www.broadridge.com.

Broadridge Contacts:

Investors: 
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com

Media:
Tina Wadhwa
Corporate Communications
Tina.Wadhwa@broadridge.com

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the NYFIX Fill Matching platform?

The NYFIX Fill Matching platform is a real-time reconciliation solution for asset managers with high volume and/or high-touch orders.

What are the benefits of the platform?

The platform reduces trade discrepancies, streamlines the front-to-middle office environment, and minimizes end-of-day mismatches.

How does the platform work?

The platform matches fills between brokers and asset managers in real-time, ensuring constant synchronization.

What is the purpose of the service?

The service informs asset managers that all fills received from brokers have been processed, allowing them to confidently allocate trades and move into the post-trade matching process.