Broadridge Partners with Coinbase on Integrated Trading Solution

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) has partnered with Coinbase to enhance crypto trading access and liquidity for institutional investors. This collaboration integrates Coinbase Prime with Broadridge's NYFIX order-routing network, allowing clients to streamline order flow and access multiple crypto liquidity venues. The solution, initially available to US clients, aims to lower participation barriers amid growing institutional adoption of crypto. Broadridge's extensive market reach will connect over 2,000 clients to this new trading capability, fostering more efficient crypto asset management.

Positive

• Partnership with Coinbase enhances liquidity access for institutional investors.
• Integration allows streamlined trading via NYFIX order-routing network.
• Initial rollout to US clients, with plans for expansion as regulations permit.
• Over 2,000 clients to benefit from improved crypto trading infrastructure.

Negative

• None.

NEW YORK, Sept. 15, 2022 /PRNewswire/ -- Bringing liquidity and greater access to crypto trading, global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE: BR), has announced a partnership with Coinbase, offering interoperability between Coinbase Prime and Broadridge Trading and Connectivity Solutions' NYFIX order-routing network.

"Despite short-term cycles, momentum in institutional adoption is trending one way – toward more exploration and more interest," said Greg Tusar, Vice President of Institutional Products at Coinbase. "Utilizing the NYFIX order-routing network, this partnership puts deep, multi-venue crypto liquidity on more buy-side traders' desks, lowering barriers for participation in this growing asset class."

Coinbase Prime is a comprehensive solution that provides an advanced trading platform, secure custody and prime services to manage crypto assets in one place. Coinbase Prime not only offers aggregated access to the majority of the market's crypto liquidity via a market-leading smart order router, but also provides full prime brokerage capabilities to the buy-side.

This integrated solution allows NYFIX clients to route order flow to Coinbase Prime via FIX, an industry standard protocol. It also allows buy-side traders to source crypto liquidity from Coinbase and trade right from their OMS. The solution is now offered to US domestic clients and will roll out to additional regions as regulations allow.

"Institutions are increasingly interested in the crypto space but trading assets has remained a challenge because messaging is only available through proprietary API interfaces," said Ray Tierney, President of Broadridge Trading and Connectivity Solutions. "Now, through Coinbase's deep access to liquidity and NYFIX's extensive market reach, we can integrate more than two thousand clients to bring crypto trading to the institutional market."

About Broadridge

Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with $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 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 Broadridge, please visit www.broadridge.com

About Coinbase

Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy.    

Investors:
W. Edings Thibault
Head of Investor Relations
+1 516-472-5129
edings.thibault@broadridge.com

Media:
Gregg Rosenberg
Global Head of Corporate Communications
+1 212 918 6966
gregg.rosenberg@broadridge.com

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the new partnership between Broadridge and Coinbase?

Broadridge has partnered with Coinbase to offer an integrated trading solution that enhances liquidity access for institutional investors via the NYFIX order-routing network.

When was the Broadridge and Coinbase partnership announced?

The partnership was announced on September 15, 2022.

How will the Broadridge-Coinbase partnership benefit institutional traders?

The partnership allows institutional traders to access deep crypto liquidity through a single integrated platform, lowering barriers to participation.

What is the ticker symbol for Broadridge?

The ticker symbol for Broadridge is BR.