The solution is designed to increase processing efficiencies, while also providing flexibility to cope with future market and regulatory changes that could arise on a modern platform.
Pershing, a BNY Mellon company, will use the solution to support its correspondent base of licensed participant brokers and a large user base of securities dealers.
It will use the solution to process equities, options and managed funds covering the whole of the post-trade life cycle, from trade capture and confirmation to settlement and accounting.
The service also offers additional connectivity to payment and settlement providers, and will enable Pershing to increase automation through straight-through processing, business views and proactive workflow controls. This also helps to reduce risk through fast-track analysis and repair of processing exceptions.
Craig Mason, chairman of Pershing Securities Australia, said: “Broadridge is a proven and trusted global provider that shares our commitment to the highest standards of client service. Its solution will support our drive for efficiency and high-quality service across our operation, and give us a firm foundation to adapt to future infrastructural and regulatory changes in the Australian market.”
Akhter Khan, Broadridge’s general manager of global technology and operations solutions in Asia-Pacific, added: “Perhaps more than any time in history, operational excellence has become key to profitability, growth and sound risk management in financial services."
"Pershing Securities Australia’s forward-thinking approach to its operations is an important advantage, and it is our privilege to welcome them to the growing community of firms using our Australian solution.”