Itiviti integrates NYFIX matching with Broadridge

Rick Steves

Broadridge’s client base now enjoys direct access to NYFIX Matching’s automated trade allocation, confirmation, and affirmation capabilities with a solution that is multi-asset, global, and fully hosted. 

Itiviti has announced the integration of its NYFIX Matching solution with the portfolio, order, and investment management system from Broadridge.

In May, Broadridge Financial Solutions acquired the provider of cross-asset trading solutions covering the full trade lifecycle in a $2.5 billion deal.

Ray Tierney, President of Itiviti, a Broadridge subsidiary, said: “The post-trade space has historically been defined by manual processes, but given shrinking technology budgets, many firms have been unable to address these challenges.

“Now, less than six months after being acquired by Broadridge, Itiviti can deliver our automated NYFIX Matching solution for trade allocation, confirmation and affirmation to a far greater number of clients, helping them save money and expedite trade matching. This integration is a testament to the full power of Broadridge’s capabilities, which can scale to support clients now and into the future.”

Broadridge’s client base now enjoys direct access to NYFIX Matching’s automated trade allocation, confirmation, and affirmation capabilities with a solution that is multi-asset, global, and fully hosted.

This will provide them with the ability to consolidate matching of multiple asset classes on a single platform and match trade details at a granular level, delivering efficiency and cost benefits.

NYFIX Matching’s FIX-based affirmation occurs in near real time, seamlessly catching errors, minimizing costly trade breaks, and supporting accelerated settlement cycles.

This is the first of many product integrations between Itiviti and Broadridge and serves as a compelling example of the strong synergies between the two, the company announced.

In August, Broadridge 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’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.

Alpha’s 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’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 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.

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