Lake Success, New York – March 31, 2009 – Broadridge Financial Solutions, Inc. (NYSE:BR), a leading global provider of technology-based outsourcing solutions to the financial services industry, and Beacon Capital Strategies, Inc., which operates a marketplace dedicated to providing liquidity and electronic trading in the less-liquid fixed-income market, today announced a multi-year strategic alliance. Through this alliance, the firms are positioned to better serve their clients who actively trade less-liquid fixed-income securities including agency mortgage-backed securities (MBS), asset-backed securities (ABS), and collateralized mortgage obligations (CMO).
Broadridge is a leading fixed-income securities processing provider and currently handles on average over $3 trillion in notional value of U.S. fixed-income securities transactions daily. Beacon established the first trading platform tailored to the specific dynamics of the less-liquid fixed-income market, which is open to all participants on an anonymous and equal basis. This strategic alliance will help the firms’ clients locate difficult-to-find securities in the less-liquid fixed-income segment, thereby enhancing liquidity and efficiency to the overall marketplace.
By utilizing Broadridge’s industry-leading impactSM and MBS Expert® products and Beacon’s cutting-edge Trade DiscoveryTM platform, clients will be able to search through the largest universe of less-liquid fixed-income securities, find the other side of the trade for instruments that meet specific investment criteria, and transact on liquidity that otherwise would not be publicly advertised in current trading channels.
“Broadridge has a long-standing commitment to its clients and helping them effectively navigate key business issues, such as the current market environment and liquidity crunch. Through this alliance with Beacon, our clients and other trading participants will now be able to tap into a new source of liquidity, streamline the trading process, and ultimately increase trading P&L. This alliance underscores Broadridge’s commitment to enable its clients to achieve higher levels of business growth as well as create solutions that address the industry’s biggest challenges. We are extremely excited to enter into this relationship with an industry innovator such as Beacon,” said J. Michael Hopkins, General Manager & SVP, Securities Processing Solutions, Fixed-Income, U.S., Broadridge.
Commenting on the alliance, Robert Barsky, Chief Operating Officer, Beacon said, “This alliance enables us to provide a powerful combination of inventory management and trading heretofore unavailable in the industry. We are very excited about rolling out this capability to the marketplace.”
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 14 countries.
For more information about Broadridge, please visit www.broadridge.com.
About Beacon Capital Strategies, Inc. (“Beacon”)
Beacon Capital Strategies, Inc. is a software company and registered broker-dealer dedicated to addressing the significant difficulty of doing business in less liquid fixed-income markets. Beacon's core product, Trade DiscoveryTM, is an electronic trading platform that enables broker-dealers and institutions to trade directly and anonymously with each other. Our goals are to provide more efficient trade execution, significant cost savings, alternative sources of liquidity, and access to a large selection of inventory. Beacon's trading platform supports transactions where there are no standing markets, specializing in mortgage-backed securities including Agency pass-throughs (both fixed and adjustable rate), Agency CMOs and Trust IOs / POs. For more information, please visit www.beacon-cs.com.
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