LAKE SUCCESS, New York -- September 28, 2011 - Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that Société Générale selected Broadridge as one of its key strategic partners for a range of technology and outsourcing services for the firm’s U.S. broker-dealer, SG Americas Securities, LLC.
Société Générale is leveraging this strategic partnership to support the growth of its U.S. market businesses. In doing so, it will utilize Broadridge’s industry-leading institutional securities processing platform, including Broadridge’s Business Process Outsourcing (BPO) solution.
A key component of Société Générale’s U.S. growth plan was to build a fixed income business and become a Primary Dealer, which it became in February 2011. A critical part of this achievement was the firm’s implementation of impact℠, Broadridge’s proven fixed income solution,whichisutilized by over 81% of the Primary Dealers who outsource and is quickly becoming the de facto industry standard for any firm trading fixed income securities.
“When we were looking for a partner, Broadridge came in, listened to our specific needs and crafted a custom technology solution along with staffing resources to support and enhance Société Générale’s back-office functions,” said Mark Kaplan, Chief Operating Officer for Société Générale Corporate & Investment Banking in the Americas. “Using Broadridge’s solutions not only enables us to redeploy our internal resources to new strategic growth areas, but we are now better equipped to grow and scale our business at predictable price points,” Kaplan concluded.
This July, Société Générale went live on BPS®, Broadridge’s back-office processing system, supporting real-time processing of its U.S. equities, options, and stock loan activities. This partnership will enhance Société Générale‘s global trading operations by streamlining processes, such as: trade initiation, confirmation, payments, corporate actions and statements between their domestic and international offices ensuring that all their regulatory reporting and other back-office requirements are met.
“Unique to the financial services market, Broadridge’s BPO services include an experienced team with extensive industry knowledge and best-in-class performance levels,” stated Joe Barra, President, International Securities Processing and Global Outsourcing Solutions, Broadridge. “Société Générale’s decision to deploy our platform is testament that we deliver the scale, cost-efficiencies, accelerated time-to-market and competitive edge global banks and broker-dealers seek in today’s competitive marketplace,” he concluded.