LAKE SUCCESS, N.Y.,
June 14, 2016 /PRNewswire/ --
Broadridge Financial Solutions, Inc. (NYSE: BR) today announced
that it has expanded its global securities financing and collateral
management capabilities through the acquisition of 4sight Financial
Software Limited, a leading provider of securities finance and
collateral management systems to financial institutions worldwide.
4sight will be integrated as part of Broadridge Securities
Financing and Collateral Management solutions, helping clients
optimize financing decisions across different asset categories,
automate the securities financing lifecycle and control
risk.
4sight's proven solutions and global client footprint
complements Broadridge's strong North American presence in the
securities financing market. Through this acquisition, Broadridge
now offers banks, broker-dealers, agent lenders, asset managers and
other buy-side firms best-in-class global Securities Finance and
Collateral Management solutions that include front-to-back office
securities lending, repo processing, synthetic financing and
enterprise-wide collateral management. Terms of the deal were not
disclosed.
Broadridge Securities Financing and Collateral Management offers
a holistic approach to support the full securities financing
lifecycle, from front-office trading automation to back-office
clearance and settlement. Its global multi-asset support delivers
an aggregated real-time view of collateral and positions across the
enterprise, enabling efficient deployment of assets and greater
control of risk, while improving operational efficiency and
reducing the cost of disparate systems.
"The greater demand for collateral driven by the regulatory
agenda has raised the need for a global approach to the multi-asset
securities financing lifecycle," said Michael Hopkins, president of Fixed Income,
Financing and Risk at Broadridge. "Following the recent expansion
of our North American securities lending capabilities through the
acquisition of Anetics, this transaction marries 4sight's proven
global capabilities and 13 years of experience in securities
financing with Broadridge's market-leading securities processing
solutions, broad global client relationships, and operational
expertise to deliver best-of-breed, fully integrated Securities
Financing and Collateral Management solutions. We are delighted to
welcome the talented 4sight team, who have built an exceptional
solution and have deep domain experience in this market," Hopkins
said.
"For decades, Broadridge has been focused on helping companies
transform their operating models to gain operational and cost
efficiency by providing proven yet innovative, market-leading
technology solutions. We are excited to join the Broadridge team
and bring our capabilities to Broadridge Securities Financing and
Collateral Management solutions," said Alastair Chisholm, founder of 4sight and VP,
general manager at Broadridge. "Through a holistic, global and
multi-asset view of collateral and positions integrated across an
enterprise, banks, broker-dealers, agent lenders and buy-side
institutions can truly manage collateral and optimize financing
decisions, while gaining a greater control of risk and improving
balance sheet management," said Chisholm.
Broadridge Securities Financing and Collateral Management,
including 4sight, complements Broadridge's recently-announced
Global Post Trade Management (GPTM) solution and market leading
Managed Services capabilities for business process outsourcing.
Broadridge enables front-to-back office operational transformation
across asset classes, markets and business entities globally,
delivering enhanced financial and risk management and regulatory
compliance capabilities.
Quayle Munro Limited acted as 4sight's financial advisor in this
transaction.
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 4sight Financial Software Limited
4sight
Financial Software is an independent software solutions provider
founded in 2003, with offices and clients worldwide.
4sight's customer base includes a full spectrum of financial market
participants from global broker dealers and custodial banks to
asset managers, insurance companies and pension funds. Clients in
16 countries on four continents use 4sight's software to meet their
business needs and 4sight offers the reliability and experience of
a company with a proven track record.
4sight's product range includes Securities Lending and Repo
systems, Collateral Management and Collateral Optimisation
solutions, a Synthetic Finance software product and a Settlement
system.
4sight's software helps financial institutions to improve
efficiency, reduce costs, automate manual processes and control
risk. 4sight also provides project management, consultancy services
and customer support through its global network of offices.
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
+1 212 704 826
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SOURCE Broadridge Financial Solutions, Inc.