Broadridge Launches Tradeverse, Transforms the Way Global Financial Firms Manage Their Trading Data

Rhea-AI Summary

Broadridge Financial Solutions Inc. (NYSE: BR) has launched Tradeverse, a revolutionary cloud-native data platform designed to transform how global financial firms manage their trading data. This innovative solution consolidates real-time, multi-asset class data from various vendor applications and platforms, covering the entire transaction lifecycle from orders to settlement.

Tradeverse aims to eliminate data silos, simplify access with a common data ontology, and incorporate robust security measures. It provides a unified, harmonized data platform that reduces errors and unlocks insights for key functions across trading desks, operations, risk, finance, and regulatory departments. The platform's clear data structure and true data harmonization enable more efficient regulatory reporting, compliance, and complex data searches using natural language.

Broadridge has already implemented Tradeverse with a global bank, demonstrating its effectiveness in harmonizing trade data. Additionally, a top ten capital markets firm is utilizing Tradeverse in conjunction with Broadridge's Generative AI tool for Operations (OpsGPT) to identify and implement productivity gains in areas such as settlement fails analysis.

Positive

• Launch of Tradeverse platform to consolidate and harmonize multi-asset class trading data
• Successful implementation with a global bank, proving efficiency in regulatory reporting and compliance
• Integration with Broadridge's Generative AI tool (OpsGPT) for enhanced productivity in operations
• Potential for new value-add business solutions based on Tradeverse in the coming months

Negative

• None.

Cloud-native platform reinvents the data lake by capturing and harmonizing the full transaction lifecycle, enabling firms to unlock opportunities through advanced data analytics and AI capabilities

NEW YORK and LONDON, Sept. 3, 2024 /PRNewswire/ -- The launch of Tradeverse, a new data platform by global Fintech leader Broadridge Financial Solutions Inc. (NYSE: BR), will help trading firms eliminate data silos, unleash the potential of their data across the enterprise and better manage costs, reconciliation, and the data quality and lineage challenges of firms typical complex platform ecosystems.

Tradeverse consolidates real-time, multi-asset class data from multiple vendor applications and platforms from orders and executions through settlement into a unified, harmonized data platform. It reduces errors, simplifies access with a common data ontology across front, middle and back office and incorporates robust security to protect sensitive information and maintain data integrity. The clear data structure unlocks insights for all key functions – trading desks, operations, risk, finance, and regulatory - by providing a trusted and transparent data source.  

"A Tradeverse implementation we've recently completed with a global bank is proving the power of harmonizing trade data," said Hugh Daly, Head of Data and AI, Capital Markets, Broadridge. "The solution delivers efficiencies for their regulatory reporting and compliance teams, allowing direct access to the data for business users initiating complex searches using natural language."

Many enterprise data warehouse projects fail to deliver the expected benefits due to the complexity arising from disparate representations of the source data. Tradeverse is focused on ensuring true data harmonization. The application of business logic and constraint of the data ontology is critical to that. This leads to seamless access to high quality data, which ultimately accelerates time-to-value for multiple AI initiatives.  

In another use case, the Securities Operations team of a top ten capital markets firm is using Tradeverse's harmonized data platform coupled with Broadridge's Generative AI tool for Operations (OpsGPT) to empower users.  This is allowing the teams to identify and implement productivity gains such as settlement fails analysis that were previously incredibly hard to capture in a fragmented ecosystem.

Tradeverse will be the cornerstone of a number of innovative value-add business solutions that Broadridge will bring to market in the coming months.

About Broadridge

Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. 

Our technology and operations platforms underpin the daily trading of more than $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, please visit www.broadridge.com. 

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

Media:
Gregg Rosenberg
Global Head of Corporate Communications
Gregg.Rosenberg@broadridge.com 

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is Tradeverse and how does it benefit financial firms?

Tradeverse is a cloud-native data platform launched by Broadridge (NYSE: BR) that consolidates and harmonizes multi-asset class trading data. It benefits financial firms by eliminating data silos, simplifying access with a common data ontology, and providing insights across trading, operations, risk, finance, and regulatory functions.

How does Tradeverse improve data management for Broadridge (BR) clients?

Tradeverse improves data management for Broadridge (BR) clients by reducing errors, providing a unified data platform, and incorporating robust security measures. It enables more efficient regulatory reporting, compliance, and complex data searches using natural language, while also supporting AI initiatives.

Can you provide an example of Tradeverse's implementation by Broadridge (BR)?

Broadridge (BR) has implemented Tradeverse with a global bank, demonstrating its effectiveness in harmonizing trade data and delivering efficiencies for regulatory reporting and compliance teams. Additionally, a top ten capital markets firm is using Tradeverse with Broadridge's OpsGPT to identify productivity gains in areas like settlement fails analysis.

What future developments are planned for Tradeverse by Broadridge (BR)?

Broadridge (BR) plans to use Tradeverse as the cornerstone for developing innovative value-add business solutions in the coming months. These solutions will likely build upon Tradeverse's capabilities in data harmonization and AI-driven insights for financial firms.