10 March 2017
London
Reporter: Drew Nicol

Broadridge gains post-trade messaging service


Broadridge Financial Solutions has acquired Message Automation to bolster its suite of post-trade services.

According to Broadridge, the acquisition to allow firms to transform their risk and compliance capabilities, particularly for complex asset classes.

The specific terms of the deal were not disclosed.

In a statement on the acquisition, Broadridge explained that the purchase is in response to the myriad reporting frameworks currently being implemented by various regulatory bodies.

Message Automation is actively implementing its solution for the second Markets in Financial Instruments Directive in preparation for the January 2018 deadline and is in “advanced planning” for the Securities Financing Transactions Regulation.

Message Automation was also chosen by Broadridge because it “has developed exceptional capabilities” in harmonising reporting standards.

“Broadridge is a global leader in driving technology innovation and business model transformation. The addition of Message Automation will enhance our ability to help companies to reduce risk and enhance compliance while improving operational efficiency,” said Charlie Marchesani, president of the global technology and operations division of Broadridge.

“This is the third acquisition related to broadening our post-trade and data analytics capabilities. These recent acquisitions in securities financing, collateral management, and derivatives clearing have helped Broadridge establish a comprehensive suite of capabilities across asset classes globally, benefiting our clients who are seeking more efficiency from a single global market provider.”

Hugh Daly, co-founder and CEO of Message Automation, commented: “We share Broadridge’s focus on delivering exceptional business value to clients, and we look forward to leveraging Broadridge’s scale and relationships to help accelerate industry transformation through our post-trade control solutions.”

More news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Citi and CME Clearing launch collateral DLT platform
18 December 2017 | New York | Reporter: Zsuzsa Szabo
The blockchain software aims to reduce margin cost
South Africa extends code of conduct consultation deadline
18 December 2017 | Pretoria | Reporter: Jenna Lomax
The Registrar of Securities Services has proposed a new code of conduct for a renewed deadline for comment
Dubai Financial Market launches short selling
18 December 2017 | Abu Dhabi | Reporter: Jenna Lomax
Dubai Financial Market has launched a regulated short selling service after gaining approval by the Securities and Commodities Authority
J.P. Morgan and Citi collaborate on truePTS post-trade platform
15 December 2017 | New York | Reporter: Zsuzsa Szabo
The New-York-based startup processes ecosystem for the global $700 trillion derivatives market
SIFMA: US market requires improved CCP access
15 December 2017 | Washington DC | Reporter: Jenna Lomax
The Dodd-Frank Act has increased the need for US firms to have access to non US swaps trading venues and central counterparties, according to paper by FIA and SIFMA
France raises spectre of European financial transactions tax
15 December 2017 | Paris | Reporter: Jenna Lomax
French President Emmanuel Macron and several ministers have dismissed concerns over the negative effect of an EU financial transactions tax on securities lending revenue
Vekaria exits Credit Suisse
14 December 2017 | Dublin | Reporter: Zsuzsa Szabo
Head of Credit Suisse's Dublin branch Manish Vekaria has left the bank