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New York, July 6, 2021 – To facilitate the clearing and settlement of both Shenzhen- and Shanghai-listed equities, China Renaissance has expanded its post-trade processing relationship with Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, via Stock Connect. The successful expansion announced today builds on the solutions China Renaissance have offered clients in equity trading via Stock Connect, with Broadridge’s post-trade solution implemented in March 2020. This expansion is in addition to the Hong Kong-listed equities processing Broadridge successfully has provided to China Renaissance since 2016. As part of the growing relationship, both firms are jointly planning for upcoming market and regulatory changes, such as Hong Kong Exchange’s (HKEX) Synapse program and FINI (Fast Interface for New Issuance) proposal, which aims to replace the existing “T+5” process with “T+1” for newly listed shares on HKEX.
“We have been impressed by the resilience of Broadridge’s systems and, as a technology partner, Broadridge understands and supports multiple markets, including north and southbound trading across asset classes,” said Andy Maynard, Managing Director, Global Head of Equities, China Renaissance. “We value our long-term relationship with Broadridge. Their experience with next-generation technologies for clearing and settlement will be beneficial for us to leverage as HKEX’s Stock Connect evolves, and the relationship allows us to be ahead of the curve for our clients.”
China Renaissance provides one-stop financial services across mainland China, Hong Kong and the United States, serving new economy entrepreneurs and investors globally. To realize its growth ambitions, China Renaissance selected Broadridge for its robust solutions that provide global scale and allow for multi-asset capabilities. As a progressive, innovative brokerage firm, China Renaissance is well advanced in its preparations for ongoing market changes in order to provide their clients with best-in-class services and access to global markets.
“China Renaissance has been able to bring more efficiency to its operations and enable its growth ambitions by leveraging Broadridge’s local expertise and global scale, as seen in the successful implementation of our post-trade processing solution for Stock Connect markets,” said Danny Green, General Manager, International Post-Trade at Broadridge. “Broadridge’s world-class technologies and experience in Asia have led us to become the technology provider of choice for many firms in the region. Our established platform allows clients to scale services with ease as they grow and continue to innovate through the adoption of The ABCDs of Innovation® - AI, blockchain, the Cloud and digital, that continue to evolve into market practices.”
About China Renaissance
China Renaissance (CR) is a leading financial institution that combines private placement advisory, M&A advisory, direct investment, equity underwriting, sales, trading and brokerage, research, structured products, asset management, wealth management and other financial services. Providing one-stop financial services across mainland China, Hong Kong and the United States, CR operates a competitive and unique international network that connects China’s capital markets with the rest of the world, serving new economy entrepreneurs and investors globally.
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge’s infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion of equities, fixed income and other 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 and what we can do for you, please visit www.broadridge.com.
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