LAKE SUCCESS, New York -- October 22, 2010 -- Broadridge Financial Solutions, Inc. (NYSE:BR) today announced the launch of its new market connectivity solutions to support institutional brokerage firms operating in the India markets, either domestically or on a cross-border basis. This represents the latest initiative to further extend the global market reach of Broadridge’s international multi-asset transaction processing solution, Gloss, through the ongoing addition of new market connectivity in the Asia and Asia Pacific regions.
“We have a substantial and well-established operation in India, where we have been present for over 10 years. With global investors increasingly investing in the Indian market, as well as Indian investors looking to invest overseas, we are well-positioned to offer a compelling solution.”
The India market extensions include direct connectivity to India’s two leading exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), and the required custodian settlement capabilities including contract note generation and reconciliation of obligations. These solutions can be provided as integrated components of the Gloss solution on either an ASP service bureau basis or for on-site implementation, or alternatively they can be integrated with a brokerage firm’s own technology solutions.
Broadridge provides comprehensive multi-asset back office processing capabilities and direct market connectivity for the US, Canada, UK and Europe, Japan, Hong Kong, Singapore and Australia, as well as via its extensive SWIFT-based custodian network. The addition of an Indian market capability is part of Broadridge’s ongoing commitment to providing global reach to brokers with a global footprint looking for a single vendor platform, and to providing a domestic capability in key markets.
“Increasingly, firms are looking to grow their businesses and offer greater client choice on a global basis,” said Tom Carey, President, Securities Processing Solutions, International, Broadridge. “We are firmly committed to helping them to accelerate the growth of their capital markets operations and expand into new global markets and asset classes faster and on a cost-effective, low risk basis.”
V. Laxmikanth, Managing Director of Broadridge in India, said, “We have a substantial and well-established operation in India, where we have been present for over 10 years. With global investors increasingly investing in the Indian market, as well as Indian investors looking to invest overseas, we are well-positioned to offer a compelling solution.”
Broadridge’s multi-asset processing solutions enable its clients to process securities transactions in more than 50 countries.