London
10 March 2017
Reporter: Drew Nicol
Broadridge gains post-trade messaging service
Broadridge Financial Solutions has acquired Message Automation to bolster its suite of post-trade services.

According to Broadridge, the acquisition to allow firms to transform their risk and compliance capabilities, particularly for complex asset classes.

The specific terms of the deal were not disclosed.

In a statement on the acquisition, Broadridge explained that the purchase is in response to the myriad reporting frameworks currently being implemented by various regulatory bodies.

Message Automation is actively implementing its solution for the second Markets in Financial Instruments Directive in preparation for the January 2018 deadline and is in “advanced planning” for the Securities Financing Transactions Regulation.

Message Automation was also chosen by Broadridge because it “has developed exceptional capabilities” in harmonising reporting standards.

“Broadridge is a global leader in driving technology innovation and business model transformation. The addition of Message Automation will enhance our ability to help companies to reduce risk and enhance compliance while improving operational efficiency,” said Charlie Marchesani, president of the global technology and operations division of Broadridge.

“This is the third acquisition related to broadening our post-trade and data analytics capabilities. These recent acquisitions in securities financing, collateral management, and derivatives clearing have helped Broadridge establish a comprehensive suite of capabilities across asset classes globally, benefiting our clients who are seeking more efficiency from a single global market provider.”

Hugh Daly, co-founder and CEO of Message Automation, commented: “We share Broadridge’s focus on delivering exceptional business value to clients, and we look forward to leveraging Broadridge’s scale and relationships to help accelerate industry transformation through our post-trade control solutions.”

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
First state-level regulator joins R3 DLT consortium
24 March 2017 | Illinois | Reporter: Katherine Brown
The Illinois Department of Financial and Professional Regulation (IDFPR) has become the first state-level regulator to join R3’s distributed ledger group...
Wolters Kluwer wins Russian reporting mandate
24 March 2017 | Moscow | Reporter: Stephanie Palmer
Nordea Bank Russia is set to go live with the Wolters Kluwer OneSumX Risk and Management Information Systems (MIS) reporting solution
Mutual insurer simplifies custody with single provider
23 March 2017 | Paris | Reporter: Mark Dugdale
Thélem Assurances awarded the mandate to CACEIS after deciding to simplify its custodian relationships, according to CFO Benoit Jullien
SEC to move US to T+2
23 March 2017 | Washington DC | Reporter: Drew Nicol
Members of the SEC’s industry steering committee, including DTCC and SIFMA, were quick to praise the commission on the amendment
Amundi clears credit default swaps through CDSClear
23 March 2017 | London | Reporter: Mark Dugdale
The asset manager accessed CDSClear via its clearing broker BNP Paribas, taking the service to 13 active members
MiFID II challenges abound
22 March 2017 | Luxembourg | Reporter: Stephanie Palmer
Data requirements and target market rules under MiFID II could pose challenges for asset managers and distributors, heard attendees of the ALFI European Asset Management Conference
ESG key for millennial investors
22 March 2017 | Luxembourg | Reporter: Stephanie Palmer
Millennial investors find environmental, social and governance factors to be important, but their return expectations are unrealistic
More news