Lake Success, NY - February 27, 2008 – Broadridge Financial Solutions, Inc. (NYSE:BR) has announced today that Mizuho Securities Asia Ltd. (Mizuho), has commenced live operations on the Broadridge CCASS (Central Clearing and Settlement System) Adapter in Hong Kong. Mizuho is using Broadridge’s adapter to support the settlement of its domestic equities business in Honk Kong.
The CCASS Adapter provides a two-way interface between any back office securities processing system and the Hong Kong Exchanges and Clearing Limited’s Central Clearing and Settlement System. In addition to automating the file generation of settlement instructions, the CCASS Adapter also handles trade settlement and position reconciliation within the host system on receipt of the relevant reports from CCASS.
Mizuho has signed a multi-year agreement with Broadridge to use its adapter to connect to CCASS. “By using the Broadridge CCASS Adapter, manual work in handling instructions generation is minimized, stock accounts balance with reconciliation and statuses and exceptions can be monitored,” said Sze Ching Chi, Head of IT, Mizuho Securities Asia Ltd.
The new agreement will extend Mizuho’s relationship with Broadridge as it is already an established user of Broadridge’s securities processing solutions, including Gloss, Broadridge’s market leading international securities processing platform, for its domestic and cross-border business in the Asia Pacific region.