NEW
YORK, Oct. 17, 2023 /PRNewswire/ -- Global
Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR),
today announced the launch of the NYFIX Fill Matching platform, a
new solution complimenting Broadridge's post-trade NYFIX Matching
solution. NYFIX Fill Matching is a FIX based real-time
reconciliation product designed for the needs of asset managers
with high volume and/or high-touch orders. NYFIX Fill matching is
the only platform that matches fills between brokers and asset
managers in real-time.
"As the T+1 time compression makes end-of-day processing
challenging, Broadridge's new Fill Matching Solution will rapidly
identify trade discrepancies, enabling clients to address and fix
these issues before the close of the trading day," said
George Rosenberger, Head of NYFIX,
Broadridge Trading and Connectivity Solutions. "By reducing this
key friction point, Broadridge is continuing to streamline and
modernize the front-to-middle office environment for our buy-side
clients."
The Fill Matching solution offers real-time reconciliation,
ensuring that brokers and asset managers are constantly in sync,
minimizing end-of-day mismatches. "Drop Copies", or execution
reports, are sent from the brokers' front office platform and are
matched against the fills received from the asset managers' system.
The matching criteria is flexible and can be configured by the
asset manager to meet their respective requirements. The service
informs the asset manager that all fills received from the brokers
have been processed and that they can confidently allocate their
trades and move into the post-trade matching process.
About Broadridge
Broadridge Financial Solutions (NYSE:
BR), a global Fintech leader with more than $6 billion in revenues, provides the critical
infrastructure that powers investing, corporate governance and
communications to enable better financial lives. We deliver
technology-driven solutions that drive business transformation for
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. Our
technology and operations platforms underpin the daily trading of
more than U.S. $10 trillion of
equities, fixed income and other securities globally. A certified
Great Place to Work®, Broadridge is part of the S&P
500® Index, employing over 14,000 associates in 21
countries.
For more information about us and what we can do for you, please
visit www.broadridge.com.
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Tina Wadhwa
Corporate Communications
Tina.Wadhwa@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.