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Broadridge Selected by Bloomberg Tradebook for New Self-Clearing Model

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By: ISIS Papyrus America | Published: 7/9/2010

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LAKE SUCCESS, N.Y., Feb. 7, 2012 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR) today announced that Bloomberg Tradebook has selected Broadridge's consolidated business process outsourcing (BPO) solution to support their equity and option clearance and settlement business. The agreement is designed to help Bloomberg Tradebook minimize its fixed-cost investment in technology and operational infrastructure while also creating new revenue-generating opportunities as it transitions from its current fully-disclosed clearing model to self-clearing.

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Broadridge's technology processing platform and integrated product solutions will help to support Bloomberg Tradebook in its transition to a self-clearing operating model. Broadridge's customizable and scalable BPO solution will provide all back-office operations and support -- on a global scale.

"Broadridge's BPO model is ideal for Bloomberg Tradebook," said Joseph Barra, President, International Securities Processing and Global Outsourcing Solutions, Broadridge. "We've worked closely with Bloomberg Tradebook during the past several months to ensure our unique BPO capabilities will allow for a seamless transition to self-clearing. Our solution can enable Bloomberg to benefit from a highly scalable and customizable offering to support all aspects of its back-office operation."

This is the first agreement between Broadridge and Bloomberg Tradebook. 

About Broadridge

Broadridge is a technology services company focused on global capital markets. Broadridge is themarket leader enabling secure and accurate processing of information for communications andsecurities transactions among issuers, investors and financial intermediaries. Broadridge builds theinfrastructure that underpins proxy services for over 90% of public companies and mutual funds inNorth America; processes more than $4 trillion in fixed income and equity trades per day; and savescompanies billions annually through its technology solutions.

For more information about Broadridge, please visit www.broadridge.com.

Media Contacts
Kelly M. Howard
Broadridge
+1-212-981-1347
kelly.howard@broadridge.com

Linda Namias
Broadridge
+1-631-254-7711
linda.namias@broadridge.com

 

SOURCE Broadridge Financial Solutions, Inc.

Copyright © 2012 PR Newswire Association LLC. All Rights Reserved.

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