Broadridge
Financial Solutions, Inc. BR today announced that Pershing
Securities Australia Limited, part of BNY Mellon, has selected Broadridge's
Australian post-trade processing solution as its new middle- and back-office
processing platform for third-party domestic clearing. The solution is
designed to increase process efficiencies and provide flexibility to support
forthcoming market and regulatory changes based on a modern platform.
Pershing Securities Australia will use the solution to support its
correspondent base of licensed member-participant brokers and large user
base of securities dealers. It will process a full range of asset classes,
including equities, options and managed funds, covering the full post-trade
lifecycle - from trade capture and confirmation to settlement and
accounting. The solution will also provide real-time position management and
connectivity to payment and settlement providers and enable Pershing
Securities Australia to increase automation through high levels of
straight-through processing, real-time business views and proactive workflow
controls that help reduce risk through fast-track analysis and repair of
processing exceptions.
Craig Mason, Pershing Securities Australia Chairman, 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, said, "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."
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: NewsPress Releases
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in