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.