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In the global GRC space, few companies, if any, come close to offering the solutions Broadridge provides -- a global breadth and depth of solutions essential to handling GRC issues that confront financial institutions today. Broadridge, a global financial technology leader with over $8 billion in market capitalization, has been helping clients transform their business with communications, technology, and data and analytics solutions. In March this year, the company has expanded its capabilities in post-trade processing and data analytics solutions with the acquisition of Message Automation Limited, a leading specialist provider of GRC solutions.
The acquisition illustrates–and accelerates–Broadridge’s ability to enable firms to transform their risk and compliance capabilities, particularly for complex asset classes where Message Automation is a proven leader. With Message Automation’s leading technology and expertise on derivatives processing models, Broadridge has extended the ability to use its central data model, equipping it to handle the new global regulations and market changes.
“We help banks meet regulatory compliance in a much more structured approach and address multiple challenges in one single solution,” said Hugh Daly, General Manager of Broadridge’s Control Solutions. Broadridge plans to offer clients support in meeting SEC’s rule 613 that will create a central database of all transactions in Regional NMS securities, building on proven solutions for other reporting regulations such as Dodd Frank in the US and EMIR/MiFID in Europe. Many of these rules and regulations specifically address risks in the wholesale market, such as position limits in commodity derivatives markets, controls on algorithmic trading and the regulation of data reporting services.
I see a lot of potential here for evolving our technology that we have brought to the Broadridge family and addressing larger client needs-- not just in the GRC space
Broadridge’s Control Solutions business has been working with global firms to prepare for the fast-approaching deadline, particularly on addressing self-reporting needs for buy-side firms.
The One-Stop Shop
The emphasis and resources that Broadridge places on its pursuits of innovation fill the void in today’s banking environment, addressing some of the GRC issues and emerging technology challenges. Clients now tap one provider with broad expertise capable of addressing increasing regulation challenges. Broadridge helps financial firms deal with major concerns such as regulatory norms. Firms also value the working groups that Broadridge has created that allow clients to follow trends and discuss regulatorily and GRC challenges that they face.
The company’s unified global post trade management platform and data structure infuse much value into Capital Markets, Asset Management, and Wealth Management segments in the GRC sector. Mitigating operational risk is one of the key reasons for this need, and it is enabled by delivering a real-time view of global trades and positions across asset classes, markets, and business entities. Transparency and effective data management are essential factors in risk management. Broadridge’s unified platform eliminates information silos and aggregates all post-trade processing and transactional data, thereby delivering holistic transparency and enabling efficient data management. Moreover, the platform aggregates all trade transaction data, enabling a comprehensive view of financials and risks.
Broadridge adopts a hassle-free approach, and its solutions deliver reporting capabilities that achieve high data quality. The company’s solutions have the ability to convert client data into a standard format depending on the purpose. Additionally, as block chain data gains more prominence by the day, the emphasis on data quality will only steadily increase. Broadridge continues to look forward and improve its solutions to serve client needs. “I see a lot of potentials here for evolving the technology that we have brought to the Broadridge family and addressing larger client needs -- not just in the GRC space,” concludes Daly.