Broadridge Financial Solutions, Inc. has unveiled the NYFIX Fill Matching platform, designed to address the pressing needs of asset managers dealing with high-volume and high-touch orders.
The NYFIX Fill Matching platform introduces a FIX-based real-time reconciliation solution designed to cater to the unique requirements of asset managers grappling with high-volume and high-touch orders. This innovative platform is the only one of its kind, facilitating real-time matching of fills between brokers and asset managers.
The solution is a critical response to the challenges brought about by T+1 time compression. By identifying trade discrepancies rapidly, it empowers clients to address and rectify issues before the close of the trading day. Broadridge aims to streamline and modernise the front-to-middle office environment for buy-side clients by reducing this key friction point.
Broadridge Financial Solutions, Inc. (NYSE: BR) is a global FinTech leader generating over $6bn in revenue. The company provides essential infrastructure for the financial industry, empowering better financial experiences. The firm offers technology-driven solutions that drive transformation for banks, broker-dealers, asset and wealth managers, and public companies. Serving as a global communications hub, Broadridge links thousands of public companies and mutual funds with millions of investors worldwide. Its technology and operations platforms underpin daily trading activities exceeding $10tn in equities, fixed income, and other securities on a global scale.
George Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions, stated, “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. By reducing this key friction point, Broadridge is continuing to streamline and modernise the front-to-middle office environment for our buy-side clients.”
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