Sydney
29 November 2011
Reporter: Anna Reitman
Securities Lending default image
Broadridge provides STP for Chi-X Australia equity traders
Broadridge Financial Solutions has announced that its new broker trading connectivity tool to process trades executed on the recently launched Chi-X alternative exchange in Australia is available to users of its SUMMIT stockbroking and accounting solution.

Equity brokers using SUMMIT can connect to Chi-X on a fast-track, seamless basis, allowing them to benefit from high levels of straight-through processing from trade execution to settlement and accounting as well as receive real-time trade information.

Fraser Moodie, head of operations, Securities Processing Solutions, Australia at Broadridge, said, "This is another great example of how we take a responsible, client-centric approach to market change. By working closely with our clients, we were able to deliver a timely service that was operational from the Chi-X exchange's launch date, allowing them to be well-positioned for Australia's new alternative trading venue."

The connectivity solution can also be used to process trades executed via any other exchange that supports the FIX financial messaging protocol. Connectivity to the new Australian Securities Exchange's (ASX) PureMatch service is also supported. The Broadridge connectivity solutions are accredited by the ASX and Chi-X for their new respective markets.

Akhter Khan, head of Asia Pacific, Securities Processing Solutions, International at Broadridge, said, "This is the latest in a succession of new initiatives that we have brought to market in Asia Pacific over the past few years. Other recent examples include the roll-out of new trade settlement connectivity for the markets in Singapore and India, a Bank of Japan interface for the BOJ-Net service, and a new cross-border solution for international firms seeking to improve the efficiency of their process flows and reduce costs when processing for their overseas affiliates."

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
BNP Paribas: ESG investment seeing increased interest
25 May 2017 | London | Reporter: Stephanie Palmer
The survey report noted that 77 percent of asset owners already incorporate ESG aspects into their strategies
Nasdaq to support Chilean CSD in post-trade tech
25 May 2017 | Santiago | Reporter: Stephanie Palmer
Based on the Nasdaq Financial Framework the solution will replace Depósito Central de Valores’s existing core system
Funds need to keep an eye on BEPS negotiations
24 May 2017 | London | Reporter: Becky Butcher
Fund participants were encouraged at Guernsey’s Fund Forum to pay close attention to negotiations over base erosion and profit sharing (BEPS) rules
Northern Trust expands UAE operations
24 May 2017 | Abu Dhabi | Reporter: Stephanie Palmer
Northern Trust has opened a new branch office in Abu Dhabi, as part of a continuing focus on business in the UAE
R3 raises record funds for DLT development
24 May 2017 | London | Reporter: Stephanie Palmer
The R3 group has raised $107 million in two tranches of fundraising, securing the largest ever investment in distributed ledger technology to date
Promotions abound at Interstrust in Jersey
24 May 2017 | Jersey | Reporter: Stephanie Palmer
Intertrust in Jersey has made a spate of promotions, including elevating Sherin Sugeeswaran to the role of associate director in the fund services team
RSRCHXchange boosts research offering with data consumption partnership
23 May 2017 | London | Reporter: Stephanie Palmer
Institutional research marketplace RSRCHXchange has partnered with corporate access management solution provider CorpAxe in order to make research consumption data available to the buy side
More news