International Securities Processing (GLOSS)
Overview of GLOSS
Through its Gloss platform, Broadridge is the market-leading provider of advanced STP solutions for international and domestic institutional operations.
Gloss is market proven and highly scalable, and supports all sizes of operation from new start-up operations to some of the world's most established names in the institutional sector.
Global access is provided to the world's financial markets, with support for a full range of instruments and multi-market operations. New clients, markets, instruments and business initiatives can easily be defined to take full advantage of emerging service opportunities.
The institutional solutions can be fully integrated with Broadridge's retail, private client and asset management solutions to support enterprise-wide straight through processing.
The GLOSS System
Gloss is a real-time, multi-currency, transaction processing engine which automates the trade processing lifecycle from trade capture through to confirmation, clearing agency reporting and settlement.
Coverage for international markets
Gloss supports an extensive range of instruments for international operations:
- Equities & Warrants
- International Equities
- ADRs
- GDR's
- Warrants
- Bonds
- International Soverign Debt
- Non-Soverign Debt
- Eurobonds
- Emerging Markets
- FRN's
- Euronotes
- FX & Money Markets
- Foreign Exchange
- Bills
- CDs
- Commercial Paper
Extensive Business Support
Complementing its broad market support, Gloss provides business-critical functionality to meet the needs of many types of operations including institutional principal and agency broking and correspondent clearing. The transaction processing lifecycle includes:
- Trade Capture – Principal & Agency
- Trade Validation and Enrichment
- Trade Reporting (eg. to ICMA via TRAX, LSE via CREST)
- Confirmations
- Allocations
- Netting
- Generation of Settlement Instructions
- Receit of Settlement Notifications
- Positions Management - Cash & Stock
- Full Trade Accounting and P & L
Workflow & Operational Control
Gloss controls operational risk using STP Explorer, Broadridge's proactive exception handling and workflow management system. STP Explorer pushes processing exceptions to users' desktops for rapid analysis and repair, minimising operational risk and exposure to processing delays.
International Market Connectivity
A suite of standard modules provides value-added interfaces to trading systems, exchanges, regulators, clearing centres, custodians and network providers. These modules, known as STP Adapters, increase STP rates by providing real-time two-way connectivity. Transactions are validates prior to transmission to reduce unnecessary fails, and responses are re-routed directly to Gloss.
STP Adapters are available for many services including:
- Bloomberg
- CCASS
- CREST
- Euroclear
- FIDESSA
- OASYS
- SWIFT
- TELEX & FAX
- TRAX
- XONTRO
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