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Broadridge is First Fintech to Utilize DTCC’s New Process for Submitting Corporate Actions Reorg Instructions

New offering further enhances Global Asset Servicing Solutions product set

NEW YORK, N.Y. – January 19, 2022Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, today announced it is the first fintech provider to connect to The Depository Trust & Clearing Corporation’s (DTCC’s) new automated process for submitting instructions for voluntary corporate actions in ISO 20022 format. The newly enhanced Reorganizations service, offered by DTCC’s subsidiary, The Depository Trust Company (DTC), automates the manual process of submitting corporate action instruction, thereby reducing risk associated with human error and providing significant cost savings for clients.

“This new offering for Broadridge’s Global Asset Servicing Solutions clients is another industry first, enabling participants to increase straight-through-processing rates for voluntary corporate action instructions from financial advisors to agents,” said Michael Wood, Head of Asset Servicing, Broadridge. “Broadridge looks forward to collaborating further with DTCC and to expanding our product offerings for clients.”

The program will provide common members of both DTCC and Broadridge’s Global Asset Servicing Solution the ability to manage and execute corporate action instructions around time-sensitive events in a more streamlined and efficient manner, increasing straight-through-processing rates and minimizing the risks associated with manual instructions. Broadridge currently services more than 60 DTCC corporate actions clients. The Broadridge solution will provide full “end-to-end” integration with ISO 20022 messages for corporate actions lifecycle entitlements. ISO 20022 is an industry standard message type designed to simplify global business communication.

After a robust testing period is completed, Broadridge anticipates going live with DTCC’s automated program in early 2022. Broadridge will continue to help facilitate testing with DTCC to support mutual clients’ needs and identify process enhancements and the best path to implementation.

In addition, in a separate effort, Broadridge is also working with DTCC to evaluate ways to achieve data standardization for equity corporate actions events. This initiative to improve the announcements process is a critical component necessary for success in the ongoing industry effort of achieving a "golden copy" record sourced from issuers, which can be disseminated to all market participants.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. 

Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com.

To contact media relations, please email us at mediarelations@broadridge.com.