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LAKE SUCCESS, N.Y., March 27, 2012 – Broadridge Financial Solutions, Inc. today announced that it is extending the range of multi-asset processing capabilities of Gloss, its leading multi-currency trade processing and settlement solution, to include post-execution transaction processing for exchange-traded options. This latest enhancement will allow banks and brokers to focus operations of an even wider variety of asset classes on a single platform and to benefit from more streamlined processing and greater business control.
With extensive functionality for equities, fixed income, treasury instruments and derivatives, Gloss is well-established across global markets as a leading solution for investment banks and brokers. As a result of this latest investment, Gloss can model and process a wide range of exchange-traded options (currency, equity, index, and interest rate futures) and provide full functionality for trade capture, position-keeping, exercise (both manual and automatic) and assignment, the automation of close-out and end of day settlement, and provide additional support for the margin calculations and interfaces as required by brokers.
This enhancement further underscores Broadridge's commitment to extend the multi-asset capabilities of Gloss to meet the evolving needs of clients and create substantial processing cost savings for firms looking to grow. Within the last year, significant investment has occurred through the launch of a number of treasury and derivatives instruments including contracts for difference, exchange-traded futures, forward rate agreements, non-deliverable forwards and interest rate swaps.
The extended Gloss capability can be combined with other technology-driven solutions from the Broadridge portfolio - such as the PROactive® suite of tools covering reconciliations, confirmation matching, fee and commission management - to provide a comprehensive post-execution platform delivered either as an on-site solution via the Broadridge Service Bureau, or through a full service-based business process outsourcing model utilizing Broadridge's global centers of excellence.
"Derivatives are now fully integrated into the investment process and we see an increased focus for industry participants to extend coverage to their client base," said Robin Kneale, Head of Strategy and Product Management, Securities Processing Solutions, International, Broadridge. "We continue to meet our commitment to provide enhanced functionality within Gloss' technology, and enable our clients and prospects to benefit from highly efficient process management of multiple asset classes through a centralized operational view."
Gloss' functionality for exchange-traded options will be available for general release in April 2012.