LAKE SUCCESS, New York -- June 24, 2009 -- Broadridge Financial Solutions, Inc. (NYSE:BR) announced today that TheMuniCenter, LLC (TMC), a leading electronic marketplace for fixed-income instruments, selected Broadridge to provide it with a suite of brokerage processing services. TMC selected Broadridge’s Securities Industry Software (SIS) Brokerage Accounting Solution enabling TMC to self-clear trades quickly and efficiently, while providing both operational and cost benefits.
Broadridge offers an expansive range of solutions that provide the industry with comprehensive support for fixed-income instruments. Along with impact sm, FinancePro, MBS Expert ®, and Aspire Trader, Broadridge’s SIS platform is designed to offer clients a turnkey solution for their fixed-income and equity trade processing, accounting, financing, and inventory needs.
TMC chose Broadridge’s SIS platform to support its transition to self-clearing from a fully-disclosed model. James Wangsness, TMC’s Chief Operating Officer commented that “Broadridge provided consultative advice to help us make the cost-effective move to self-clearing for our high volume dealer-to-dealer products including Municipals and Corporate Bonds. Previously, we had linked to Broadridge’s Aspire Trader IMS, which gave us comfort for smooth technology integration. Furthermore, with TMC’s explosive growth over the past few years (including a 20% market-share 1 for municipal bond transactions), it was important to select a partner who could ensure a seamless transition so as not to disrupt our clients. Finally, as TMC’s business grows, the SIS infrastructure affords TMC a scalable and efficient platform to potentially expand self-clearing to encompass our fast-growing institutional customer segment and more exotic product categories (e.g., MBS and ABS).”
“We are extremely pleased that TMC has chosen Broadridge as their partner. Our SIS platform is very well suited to their high-volume, multi-instrument, real-time business needs,” said Rob Enz, Senior Vice President and General Manager, Securities Processing Solutions-SIS, U.S. , Broadridge. “Broadridge’s mission is to deliver world class service to our clients by providing them with industry-leading tools that enable them to focus on their core business through efficient, scalable operations. Our solution allows TMC to provide their customers with superior service at a cost-effective price,” he added.
1 Based on the first quarter of 2009’s total dealer-to-dealer transactions as reported by the MSRB.