Broadridge Financial Solutions, Inc.
| Broadridge Financial Solutions, Inc. | |
| Key People | Rich Daly, President and CEO |
|---|---|
| Products | Financial technology and data |
| Website | https://www.broadridge.com/ |
Broadridge Financial Solutions, Inc. provides communications, technology, data and analytics solutions for the financial services industry.
History[edit]
Broadridge began as the brokerage services division of ADP in 1962. Since becoming independent in 2007, it has grown into a global fintech company with over $7 billion market capitalization.[1] and more than $4.5 billion in revenues.[2]
In the 1970s, it expanded its operations into Canada. In the 1980s it created an offering for an investor communications business serving more than 30 major clients in the first year and became the largest full-service brokerage processor, with approximately 80 percent of the market.
Broadridge also has a subsidiary in India and opened its fourth office there in 2017 in Bengaluru.[3]
On March 29, 2021, the company announced it signed a definitive agreement to acquire Itiviti Holding AB, a leading provider of trading and connectivity technology to the capital markets industry, in an all-cash transaction valued at approximately $2.5 billion from Nordic Capital. The company said the deal would expand Broadridge's profile in the capital markets sector.
Itiviti’s presence in the APAC and EMEA regions was also expected to increase Broadridge's scale outside North America. Itiviti is a leading global capital markets technology service provider, offering scalable solutions that financial institutions use to consolidate their trading infrastructure.
The deal was expected to close in fourth-quarter 2021, pending regulatory approvals. [4] [5]
In June 2021, Broadridge launched a distributed ledger repo (DLR) trading platform aiming to transform the repo market using blockchain technology.[6] In the several weeks since it went live, the platform executed more than $30 billion in average daily volume.[7]
Products and Services[edit]
Broadridge offers trade processing, post trade management, exchange connectivity, collateral management [8]
The company's Global Market Intelligence platform provides detailed information on 80,000 mutual funds and ETFs globally, and incorporates MSCI ESG Fund Metrics to provide sustainable impact, carbon intensity metric and value alignment scores on every fund tracked by MSCI ESG Research.[9]
Key People[edit]
- Tim Gokey, CEO
- Chris Perry, President
- Edmund Reese, Chief Financial Officer
References[edit]
- ↑ About Us. Broadridge Financial Solutions.
- ↑ History. Broadridge.
- ↑ Broadridge Financial Solutions opens fourth office in India. The Hindu Businessline.
- ↑ Broadridge Extends Capital Markets Franchise with Acquisition of Itiviti. Broadridge.
- ↑ Broadridge secures deal to acquire Itiviti for $2.5 billion. The TRADE.
- ↑ Broadridge looks to transform repo trading with launch of new blockchain-based platform. The Trade News.
- ↑ UBS joins new blockchain-based repo platform from Broadridge. The Trade News.
- ↑ Solutions for Capital Markets. Broadridge Financial Solutions.
- ↑ Broadridge Adds MSCI ESG Fund Metrics to Further Expand Global Market Intelligence Platform. Broadridge Financial Solutions.