Broadridge has added clearing for exchange-traded derivatives (ETDs) to its Global Post-Trade Management (GPTM) solution through the acquisition of technology firm Dojima.
The Dojima solution, rebranded as Broadridge Derivatives Clearing, means that GPTM can facilitate central clearing for exchange-traded and over-the-counter derivatives, providing connectivity to global clearinghouses and exchanges.
Auto-clearing facilities are designed to let trades flow quickly and easily between clearinghouses, clearing members and end clients, allowing for improved time-to-market. The solution is also designed to be flexible, addressing the complex and often changing requirements of derivatives reforms.
Terms of the deal have not been disclosed.
This acquisition comes as a part of a general improvement of Broadridge’s post-trade offering for banks and brokers. In March, the firm announced a strategic alliance with The Technological Company to improve Broadridge’s post-trade offering for futures and options through margin calculation capabilities.
Tom Carey, president of global technology and international operations at Broadridge, said: “This strategic expansion of our futures and options offering is an important addition to our GPTM roadmap, enabling us to offer a broader, tightly-integrated global post-trade processing solution for investment banks and brokers.”
The former CEO of Dojima, Nachi Muthu, has joined Broadridge in the position of head of derivatives trading and clearing solutions, global technology and operations.
Muthu said: “Broadridge has been a leader in helping companies transform the breadth and economics of their operational models through global, seamlessly integrated post-trade processing solutions.”
“We are pleased to join the Broadridge team, leveraging our multi-tenant, multi-currency and multi-asset class technology to help firms meet rapidly-evolving market and regulatory changes in the exchange-traded derivatives marketplace.”
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