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Broadridge and Symphony: Transforming Post-Trade Communication

Broadridge Financial Solutions Inc., a leading technology service provider in the financial sector, has announced a strategic partnership with Symphony, a well-known communication technology company. This collaboration is focused on enhancing the capabilities of the NYFIX Matching solution, a key platform for post-trade activities.

The NYFIX Matching platform, which has evolved to become a pivotal tool in the post-trade process, is set to integrate messaging features, allowing asset managers and executing brokers to communicate seamlessly. With the introduction of Symphony's secure messaging functionalities, users of NYFIX Matching can now address post-trade discrepancies more effectively and efficiently than ever before.

Why This Matters

As the landscape of financial services continues to evolve, efficient communication remains critical. Clients have expressed a strong need for quicker and more reliable ways to interact with their brokers. By incorporating Symphony's messaging capabilities, Broadridge aims to fill this gap, promoting better compliance, transparency, and quick resolutions of discrepancies.

Georger Rosenberger, head of NYFIX at Broadridge Trading and Connectivity Solutions, remarked, "Our goal is to enhance operational efficiency for our clients by enabling faster resolution of post-trade inaccuracies. This integration is a testament to our commitment to simplify client experiences and meet their evolving needs."

The Impact of Messaging in Financial Services

In today's fast-paced financial environment, the demand for efficient workflows is at an all-time high. Brad Levy, CEO of Symphony, emphasized the vital role that modern communication tools play in the industry. He stated, "With the financial sector advancing towards a more digitized workflow, the reliance on secure and interoperable collaboration tools is becoming increasingly crucial. This partnership allows us to improve real-time transactional accuracy for Broadridge's clients, streamlining trade flows significantly."

The integration of messaging within the NYFIX platform is described as a significant first for the industry, setting a new standard for how post-trade matching solutions are delivered. This integration not only enhances operational efficiencies but also promotes a more interconnected financial ecosystem.

Broadridge's Vision

Broadridge has positioned itself as a technology leader dedicated to transforming the financial services landscape. Processing over 7 billion communications annually and supporting the daily trading of more than $10 trillion in securities worldwide, Broadridge’s infrastructure is finely tuned to meet the expansive needs of its clients.

The company prides itself on its status as a certified Great Place to Work® and is a member of the prestigious S&P 500 Index, boasting a global workforce of over 14,000 employees across 21 countries.

In summary, the partnership between Broadridge and Symphony signifies a critical step forward in enhancing the capabilities of the NYFIX Matching platform. As the financial industry progresses in its digitization efforts, the integration of effective communication tools is not only logical but essential, helping clients navigate the complexities of trading with greater ease and assurance.

For additional insights about the NYFIX Matching solution and its innovative features, further details are available on Broadridge's official website.