LAKE SUCCESS, N.Y.,
March 21, 2016 /PRNewswire/
-- Broadridge Financial Solutions, Inc. (NYSE: BR) today
announced that it has made a strategic investment and entered into
a referral, sales and marketing alliance with LiquidX, Inc.
(LiquidX), the provider of an electronic exchange platform for
global trade finance.
Founded by former TradeWeb CEO Jim
Toffey, LiquidX has a unique exchange platform that brings
significant liquidity and transparency to the historically
difficult trading of corporate receivables by connecting sell-side
and buy-side participants. LiquidX unlocks balance sheet capital
from large corporations through its innovative technology-driven
auction market.
Through the alliance, Broadridge will facilitate access to
LiquidX's trade finance exchange platform for the nearly 2,000
corporations globally with which Broadridge has relationships. The
strategic collaboration with LiquidX will enable Broadridge to
connect corporate treasury and finance professionals with the
capital markets and trading desks of its large network of
corporate, bank and asset management clients.
"LiquidX's innovative technology combined with Broadridge's
leadership role in facilitating trading and settlement on behalf of
its large global client network will provide significant value in
addressing liquidity and execution issues within trade finance,"
said Charlie Marchesani, president
of Global Technology and Operations at Broadridge. "Our alliance
with LiquidX is a strategic extension of our processing
capabilities to a new emerging electronic asset class
marketplace."
Jim Toffey, CEO and founder of
LiquidX, said: "We are excited to partner with Broadridge to
greatly expand the distribution reach of our highly-scalable and
rapidly-growing platform."
Chris Perry, president of Global
Sales, Marketing and Solutions at Broadridge, said: "Broadridge's
continued focus is on bringing revenue-generating, value-added
solutions to our network of clients. Our unique business
model enables us to serve as the intersection between corporate,
buy-side and sell-side firms and work with LiquidX to bring needed
liquidity to an illiquid asset class."
About Broadridge
Broadridge Financial Solutions, Inc.
(NYSE: BR) is the leading provider of investor communications and
technology-driven solutions for broker-dealers, banks, mutual funds
and corporate issuers globally. Broadridge's investor
communications, securities processing and managed services
solutions help clients reduce their capital investments in
operations infrastructure, allowing them to increase their focus on
core business activities. With over 50 years of experience,
Broadridge's infrastructure underpins proxy voting services for
over 90% of public companies and mutual funds in North America, and processes on average
$5 trillion in equity and fixed
income trades per day. Broadridge employs approximately 7,400
full-time associates in 14 countries. For more information about
Broadridge, please visit www.broadridge.com.
About LiquidX
LiquidX Inc. is the largest electronic
marketplace for the exchange of Trade Finance assets. Through its
leading technology platform and a diverse and flexible pool of
capital, the auction-based marketplace of LiquidX provides a
transparent platform for tapping the capital markets to deliver
best price execution for Trade Finance assets. The LiquidX
marketplace is open to all participants including large
corporations, banks, asset managers, hedge funds, insurers and
family offices to trade risk and to invest in the Trade Finance
asset class. The LiquidX seller base is diverse and deep with
credits from the largest global companies, and the LiquidX buyer
base ranges from the largest global banks to community banks, hedge
funds, and global asset managers. The LiquidX trading
platform has executed over $7.4
billion of trade volume and processed over $30 billion in post trade settlement to
date. For more information about LiquidX, please visit
www.lqxinc.com.
Forward-Looking Statements
This press release and
other written or oral statements made from time to time by
representatives of Broadridge may contain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements that are not historical in nature,
and which may be identified by the use of words such as "expects,"
"assumes," "projects," "anticipates," "estimates," "we believe,"
"could be" and other words of similar meaning, are forward-looking
statements. These statements are based on management's expectations
and assumptions and are subject to risks and uncertainties that may
cause actual results to differ materially from those expressed.
These risks and uncertainties include those risk factors discussed
in Part I, "Item 1A. Risk Factors" of our Annual Report on Form
10-K for the fiscal year ended June 30, 2015 (the "2015 Annual
Report"), as they may be updated in any future reports filed with
the Securities and Exchange Commission. All forward-looking
statements speak only as of the date of this press release and are
expressly qualified in their entirety by reference to the factors
discussed in the 2015 Annual Report.
These risks include: the success of Broadridge in retaining and
selling additional services to its existing clients and in
obtaining new clients; Broadridge's reliance on a relatively small
number of clients, the continued financial health of those clients,
and the continued use by such clients of Broadridge's services with
favorable pricing terms; changes in laws and regulations affecting
Broadridge's clients or the services provided by Broadridge;
declines in participation and activity in the securities markets;
any material breach of Broadridge security affecting its clients'
customer information; the failure of Broadridge's outsourced data
center services provider to provide the anticipated levels of
service; a disaster or other significant slowdown or failure of
Broadridge's systems or error in the performance of Broadridge's
services; overall market and economic conditions and their impact
on the securities markets; Broadridge's failure to keep pace with
changes in technology and demands of its clients; Broadridge's
ability to attract and retain key personnel; the impact of new
acquisitions and divestitures; and competitive conditions.
Broadridge disclaims any obligation to update or revise
forward-looking statements that may be made to reflect events or
circumstances that arise after the date made or to reflect the
occurrence of unanticipated events, other than as required by
law.
Media Contacts
Kate McGann
Broadridge Financial Solutions
Katherine.mcgann@broadridge.com
+1 212 981 1395
Brett Philbin
Edelman
Brett.philbin@edelman.com
+1 212 704 8263
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SOURCE Broadridge Financial Solutions, Inc.