LAKE SUCCESS, N.Y.,
May 12, 2016 /PRNewswire/
-- Broadridge Financial Solutions, Inc. (NYSE: BR)
today announced that Questrade, an online retail brokerage based in
Canada, has adopted Broadridge's
end-to-end foreign exchange and liquidity solution, Broadridge FX
and Liquidity (FXL).
Questrade is fully deployed on the FXL system on a hosted basis,
and is utilizing the client portal, cash management statement
processing function, and position management and risk management
capabilities to support its corporate currency exchange and global
payments (delivery versus payment) business. Through FXL, Questrade
is fully compliant with the Investment Industry Regulatory
Organization of Canada (IIROC)
requirements for statements and confirmations.
"The FX market has evolved significantly and the need for a
truly global, efficient and scalable modern system is more
important than ever," said Edward
Kholodenko, Questrade's President and CEO. "We selected FXL
to help increase efficiency by providing a modern portal, FX
processing and integrated, cross-asset class functionality with
high levels of straight-through processing."
Since Broadridge's acquisition of FXL – formerly TwoFour Systems
– in January 2015, seven new clients
have adopted the solution. The solution supports banks,
broker-dealers, futures commission merchants, liquidity providers
and payments firms in more than 80 locations globally, providing
round-the-clock support, straight through processing and real-time
aggregation of global currency positions.
"The adoption of FXL by leading firms such as Questrade is a
reflection of an imperative across the industry to renew and
standardize systems in light of an increasingly complex operational
and regulatory environment," said Steve
Davis, general manager of Broadridge FXL. "Our goal with FXL
is to remove some of the complexity and burden to allow our clients
to focus on meeting regulatory requirements as well as business
expansion and growth."
The FXL platform can be deployed as an end-to-end solution or
integrated on a component-basis to service a specific need within
foreign exchange, order management, risk management, cash
management or treasury departments. It is available on a hosted
basis or as a managed service.
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.
Media
Contacts:
|
|
Kate
McGann
|
Erica
Sunkin
|
Broadridge
|
Edelman
|
+212-981-1395
|
+212-729-2126
|
katherine.mcgann@broadridge.com
|
erica.sunkin@edelman.com
|
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SOURCE Broadridge Financial Solutions, Inc.