Broadridge has completed the acquisition of Alpha Omega, a post-trade solutions provider for the investment management industry.
The acquisition, which encompasses the remaining 68 per cent of Alpha Omega, will allow Broadridge to fully consolidate Alpha Omega’s post-trade matching and consolidation solution into its existing NYFIX connectivity and FIX infrastructure.
The acquisition builds on Broadridge’s recent acquisition of Itiviti, the Sweden-based software company and Broadridge’s effort to better automate buy-side and sell-side firms’ trade matching processes.
NYFIX Matching, which combines Alpha Omega’s FIXAffirm solution with Itiviti’s NYFIX network, handles the entire affirmation process.
Buy-side institutions can access NYFIX Matching through their existing NYFIX connections as a fully managed service and can also allocate and match their trades, with same-day affirmation.
The extension of the NYFIX service into post-trade will deliver processing efficiencies with significant cost savings over current solutions, says Broadridge.
Alpha Omega’s FIX-based technology is used by asset managers and broker/dealers for covering automated allocation, confirmation and affirmation of trades for equities, fixed income securities and derivatives.
Ray Tierney, president of Itiviti, said: “We are excited to formalise our four-year strategic partnership with Alpha Omega through this acquisition.”
He adds: “We are leading technology innovation in post-trade, and this acquisition is a testament to our continued growth and momentum in transforming this space. NYFIX Matching is the first ‘one-stop’ platform to handle all of a fund’s trade matching needs across various product types and asset classes.”
