Leveraging a fully automated confirmation and affirmation process for trade allocations, the new technology enables sell-side institutional brokers to optimize their service provision to institutional fund managers.
It also allows brokers to maximize STP rates and modernize their own post-trade processing and settlement operations.
Supporting Swift GETC messages including MT515, MT509 and MT517 on a global basis, the Broadridge technology offers operational control through full transparency of the message generation, flows and statuses.
In a bid to enable clients to efficiently manage and control their post-trade activities, a Swift MT54X settlement message is released on receipt of the successful affirmation message (MT517).
It also increases the range of confirmation-related market services already supported which includes Omgeo’s Central Trade Manager (CTM) and Oasys Global, and Swift’s Accord for Securities.
Processing over $4.5 trillion in fixed income and equity trades on a daily basis, Broadridge Financial Solutions operates in 13 countries and offers investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers across the world.
