New York
01 June 2015
Reporter: Stephanie Palmer

Broadridge wins BBVA post-trade mandate

BBVA Group has adopted Broadridge’s Managed Service, as a post-trade utility model to support its fixed-income business in the US.

Broadrige will provide an integrated service to support fixed-income and repurchase agreement processing, as well as international clearance and settlement and investor communications services. The move is intended to help BBVA expand its product offering and enhance its trade processing and risk controls. It could also lead to cost savings.

Broadridge already supports reconciliations processing of equities, cash and exchange-traded derivatives for BBVA, a service it has provided since 2013.

Ramon Martinez Sobrado, head of corporate and investment banking global operations at BBVA Group, said: "As the fixed income market evolves, new technology and operating models will play an increasingly vital role for our business.”

He added: “The strategy to move to Broadridge’s Managed Service model enables BBVA to leverage significant scale and cost efficiencies to gain competitive differentiation for our US institutional fixed income business. The expanded relationship with Broadridge is part of our strategy to deliver superior services to our clients while enhancing our core technologies and efficiencies.”

It is estimated that Broadridge technology supports post-trade processing for 60 percent of all US fixed-income trading volumes, including 16 of the 22 primary US dealers. Its Managed Service offering handles about 16 percent of all US institutional fixed-income volumes – a figure that has doubled in the last year.

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
OFI AM and SETL become shareholders of IZNES
23 February 2018 | Paris | Reporter: Jenna Lomax
OFI AM and SETL have been joined as shareholders of IZNES by five asset management companies
Klesia Finances goes live with NeoXam’s Density solution
23 February 2018 | Paris | Reporter: Jenna Lomax
According to Klesia, Density will assist it in facing the current French and European regulatory landscape
EBA Clearing’s RT1 hits 500,000-transaction-mark
23 February 2018 | London | Reporter: Jenna Lomax
The RT1 system passed the transaction milestone on 19 February
Liz Daniels joins FCA
23 February 2018 | London | Reporter: Becky Butcher
The Financial Conduct Authority has appointed Liz Daniels as policy advisor
Gen II exceeds $175 billion in assets under administration
23 February 2018 | New York | Reporter: Becky Butcher
Gen II Fund Services has revealed that its assets under administration have exceeded $175 billion
SANNE hires Hannah Correll Jaeger
22 February 2018 | New York | Reporter: Becky Butcher
SANNE has appointed Hannah Correll Jaeger as head of client relationship management for the Americas to support the company’s growth
Benelux trio set to strengthen collaboration on blockchain
22 February 2018 | Brussels | Reporter: Becky Butcher
B-Hive, the Luxembourg House of Financial Technology and the Dutch Blockchain Coalition have signed a memorandum of understanding to strengthen further collaboration in blockchain within the Benelux region
More news