China Renaissance Selects Broadridge to Expand Post-trade Processing via Stock Connect

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) has expanded its post-trade processing relationship with China Renaissance to enhance the clearing and settlement of Shenzhen and Shanghai-listed equities. This collaboration builds on previous solutions since March 2020 and includes processing for Hong Kong-listed equities since 2016. Both firms will prepare for upcoming market and regulatory changes, including HKEX’s Synapse program. Broadridge's robust solutions aim to facilitate efficiency in China Renaissance operations, supporting their growth as they navigate changes in the market.

Positive

• Expanded relationship with China Renaissance enhances trading capabilities.
• Broadridge's solutions improve operational efficiency for China Renaissance.
• Successful implementation since 2020 for post-trade processing strengthens their market position.
• Plans to adapt to regulatory changes like HKEX’s Synapse program show proactive strategy.

Negative

• None.

NEW YORK, July 6, 2021 /PRNewswire/ -- To facilitate the clearing and settlement of both Shenzhen- and Shanghai-listed equities, China Renaissance has expanded its post-trade processing relationship with Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, via Stock Connect. The successful expansion announced today builds on the solutions China Renaissance have offered clients in equity trading via Stock Connect, with Broadridge's post-trade solution implemented in March 2020. This expansion is in addition to the Hong Kong-listed equities processing Broadridge successfully has provided to China Renaissance since 2016.  As part of the growing relationship, both firms are jointly planning for upcoming market and regulatory changes, such as Hong Kong Exchange's (HKEX) Synapse program and FINI (Fast Interface for New Issuance) proposal, which aims to replace the existing "T+5" process with "T+1" for newly listed shares on HKEX. 

"We have been impressed by the resilience of Broadridge's systems and, as a technology partner, Broadridge understands and supports multiple markets, including north and southbound trading across asset classes," said Andy Maynard, Managing Director, Global Head of Equities, China Renaissance. "We value our long-term relationship with Broadridge. Their experience with next-generation technologies for clearing and settlement will be beneficial for us to leverage as HKEX's Stock Connect evolves, and the relationship allows us to be ahead of the curve for our clients."

China Renaissance provides one-stop financial services across mainland China, Hong Kong and the United States, serving new economy entrepreneurs and investors globally. To realize its growth ambitions, China Renaissance selected Broadridge for its robust solutions that provide global scale and allow for multi-asset capabilities. As a progressive, innovative brokerage firm, China Renaissance is well advanced in its preparations for ongoing market changes in order to provide their clients with best-in-class services and access to global markets.

"China Renaissance has been able to bring more efficiency to its operations and enable its growth ambitions by leveraging Broadridge's local expertise and global scale, as seen in the successful implementation of our post-trade processing solution for Stock Connect markets," said Danny Green, General Manager, International Post-Trade at Broadridge. "Broadridge's world-class technologies and experience in Asia have led us to become the technology provider of choice for many firms in the region. Our established platform allows clients to scale services with ease as they grow and continue to innovate through the adoption of The ABCDs of Innovation® - AI, blockchain, the Cloud and digital, that continue to evolve into market practices."

About China Renaissance

China Renaissance (CR) is a leading financial institution that combines private placement advisory, M&A advisory, direct investment, equity underwriting, sales, trading and brokerage, research, structured products, asset management, wealth management and other financial services. Providing one-stop financial services across mainland China, Hong Kong and the United States, CR operates a competitive and unique international network that connects China's capital markets with the rest of the world, serving new economy entrepreneurs and investors globally.

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.

Investors:

W. Edings Thibault
Investor Relations
+ 1 516-472-5129
Edings.thibault@broadridge.com

Media:

Gregg Rosenberg
Corporate Communications
+1 212-918-6966
Gregg.rosenberg@broadridge.com

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What recent partnership did Broadridge (BR) announce?

Broadridge expanded its post-trade processing relationship with China Renaissance to improve clearing and settlement for Shenzhen and Shanghai equities.

How will Broadridge's relationship with China Renaissance impact their operations?

The partnership is expected to enhance operational efficiency and support growth within changing market conditions.

What regulatory changes are Broadridge and China Renaissance preparing for?

They are planning for the HKEX Synapse program and other market changes affecting trading.

Since when has Broadridge been providing solutions to China Renaissance?

Broadridge has provided solutions since March 2020, with additional processing for Hong Kong equities since 2016.