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.”

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