London
22 July 2013
Reporter: Georgina Lavers
Securities Lending default image
Accenture and Broadridge team up for new post-trade solution
Accenture and Broadridge Financial Solutions have collaborated on the launch of a new post-trade solution, signing up Societe Generale as its first client.

Accenture Post-Trade Processing provides post-trade processing and technology services to support settlement, books and records, asset servicing, operational management and control, real-time data access and administrative accounting.

The two firms have designed the solution to also accommodate other technology to support functions such as reconciliations and corporate actions processing, which is provided by SmartStream, another partner of Accenture.

Societe Generale Corporate & Investment Banking (SGCIB) is the first client of the solution and will use it to manage back-office securities processing.

As part of the initiative, a number of SGCIB employees with post-trade processing skills relevant in more than 50 financial markets are expected to join Accenture.

“The global investment banking industry is at a crossroads, with regulatory, market and technological pressures changing the economics of the business and leading banks to fundamentally reassess their operating models,” said Bob Gach, global managing director of Accenture’s Capital Markets industry practice.

“Post-trade processing plays a vital role in client service, but represents a significant and often stubbornly fixed cost for banks. Our new solution provides the efficiencies, scalability and regulatory capabilities in post-trade processing that can help banks rebuild their business models around more profitable services and differentiate them from the competition.”

“Societe Generale Corporate & Investment Banking and Accenture share the same vision of what could be the future model for securities processing among investment banks: industrialising some services by mutualizing processing activities and costs across multiple institutions,” said Christophe Leblanc, COO of Societe Generale Corporate & Investment Banking.

“We are happy to be the first client of Accenture Post-Trade Processing, a pioneering solution that sets a new industry standard for efficiency in securities post-trade processing, and which will enable us to deliver top quality services to our clients.”

“Investment banks need to transform and are actively seeking solutions that help them enter new markets and comply with regulatory changes, all while meeting client demands,” said Steve Racioppo, chief revenue officer, Broadridge Financial Solutions.

“With Broadridge’s technology as the engine behind the solution and Accenture’s expertise in capital markets, we can see this solution becoming the industry standard for post-trade processing.”

“This collaborative effort, which brings deep market expertise and technology to create a shared service solution for multiple clients, exemplifies the customer-focused thinking that will transform the industry,” said Philippe Chambadal, CEO of SmartStream.

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
LSEG and IBM partner for SME blockchain
20 July 2017 | London | Reporter: Drew Nicol
The framework will be built on Hyperledger Fabric version 1.0 and hosted by The Linux Foundation
Northern Trust commits to EU hub
19 July 2017 | Luxembourg | Reporter: Stephanie Palmer
Northern Trust is set to establish a banking presence in Luxembourg, and has appointed a new head of continental Europe, in a move that it says is “further establishing its commitment to the region”
New OMS launches to support firms in MiFID II
19 July 2017 | London | Reporter: Stephanie Palmer
London-based financial technology start-up Hedgd has launched its cloud-based order management system, to support firms in compliance with the second Markets in Financial Instruments Directive
SIX launches new regulatory data and document exchange platform
18 July 2017 | Zurich | Reporter: Barney Dixon
SIX Financial Information has launched a new platform allowing for more efficient electronic exchange of regulatory data between wealth managers, asset managers and banks
T7 goes live at Irish Stock Exchange
18 July 2017 | Leinster | Reporter: Barney Dixon
The Irish Stock Exchange has migrated to Deutsche Börse’s new T7 trading platform, which aims to enhance the performance of ISE’s equity marketing offering
Lombard Risk dominates Canada with new mandate win
18 July 2017 | London | Reporter: Drew Nicol
Lombard Risk Management has tightened its grip on the Canadian banking market with another major bank signed up to its flagship Colline collateral management solution
Ex-Visa CEO takes helm at BNY Mellon
18 July 2017 | New York | Reporter: Stephanie Palmer
BNY Mellon has named Charles Scharf as CEO and director of the company, effective immediately
More news