Broadridge acquires Alpha Omega to extend NYFIX service into post-trade

Rick Steves

Buy-side institutions can easily access NYFIX Matching in order to allocate and match their trades, accomplishing same-day affirmation with a global community of more than 100 brokers.

Broadridge has acquired Alpha Omega, a market-leading FIX-based post-trade solutions provider for the investment management industry.

Building on Broadridge’s recent acquisition of Itiviti, this deal encompasses the remaining 68% of Alpha Omega and will enable Broadridge to fully consolidate Alpha Omega’s post-trade matching and consolidation solution into its existing NYFIX connectivity and FIX infrastructure.

The integration should better automate buy-side and sell-side firms’ trade matching processes and further accelerates Broadridge’s product roadmap.

Ray Tierney, President of Broadridge’s Itiviti, said: “We are excited to formalize our four-year strategic partnership with Alpha Omega through this acquisition. Broadridge business.

“We are leading technology innovation in post-trade, and this acquisition is a testament to our continued growth and momentum in transforming this space. NYFIX Matching is the first ‘one-stop’ platform to handle all of a fund’s trade matching needs across various product types and asset classes.”

Alpha Omega’s advanced FIX-based technology for asset managers and broker-dealers covers automated allocation, confirmation, and affirmation of trades for equities, fixed income securities, and derivatives.

NYFIX Matching combines Alpha Omega’s FIXAffirm solution with Itiviti’s NYFIX network and provides a platform to handle the entire affirmation process with speed and efficiency.

Buy-side institutions can easily access NYFIX Matching in order to allocate and match their trades, accomplishing same-day affirmation with a global community of more than 100 brokers.

This extension of the NYFIX service into post-trade will deliver processing efficiencies with significant cost savings over current solutions, the firm claims.

Broadridge has been aggressively acquiring businesses in order to grow and create efficiencies. Most recently, the company acquired the assets of Jordan & Jordan, a cloud-based Execution Compliance and Surveillance Service (ECS).

The deal will further enhance the firm’s surveillance and regulatory reporting as well as compliance consulting capabilities for broker-dealers in the United States.

Earlier this year, Broadridge bought AdvisorStream to enhance engagement and marketing solutions as the events of 2020 have transformed the nature of advisor and client collaboration and communications.

Its most high-profile deal was the acquisition of Itiviti for $2.5 billion. Itiviti is now part of Broadridge’s Global Technology and Operations segment. Its senior management team, including its CEO, will continue to remain in the company to help drive the future expansion and growth of the company.

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