NEW YORK, New York -- October 29, 2007 -- Broadridge Financial Solutions, Inc. announced today the launch of ECN Connector, Broadridge's new trade execution gateway. This solution links impact℠ clients to the top Electronic Communication Networks (ECNs) for repo and outright trades.
Impact is Broadridge's integrated, online securities transaction processing system for fixed income trading. The impact system provides leading global financial institutions with trade capture and processing, as well as settlement and clearing functions for domestic and foreign fixed income instruments, including extensive support for mortgage-backed securities. Additionally, impact is a multi-currency and multi-entity system that provides real-time position and balance information, in addition to detailed accounting, financing, and repo functionality. Broadridge is now offering ECN Connector to its impact clients providing a trade execution interface between impact and the top four ECNs. ECN Connector is the latest offering from Broadridge designed to reduce risk by eliminating manual trade entry for repo and outright trades. ECN Connector will enable Broadridge's impact clients to reap the benefits of more fungible, flexible trading, as well as increased operational efficiencies.
"Broadridge is committed to investing in the development of technology that meets client needs as well as the demands of an ever-changing marketplace," said J. Michael Hopkins, Broadridge's General Manager, Securities Processing Solutions, Fixed Income. He continued, "We are pleased to provide our impact clients with an even greater capacity to maximize revenue and reduce risk in the fixed income market through ECN Connector."