Charles Schwab boosts global investing capabilities with Broadridge Financial

Source: Broadridge Financial Solutions

Charles Schwab today announced plans to significantly enhance its global investing offer through a strategic relationship with Broadridge Financial Solutions (NYSE:BR), a global industry leader in securities processing and business process outsourcing (BPO) solutions for financial services firms.

Key to these enhancements will be the launch of a robust, multi-country and multi-currency offering in Q1 2012, where Schwab clients can initially trade in 12 markets and eight currencies. Broadridge will provide the technology needed to support currency trade processing, accounting and reporting.

The collaboration with Broadridge represents the most recent addition to Schwab's global investing services. Launched last fall with over-the-counter (OTC) foreign stocks, foreign equity trading by Schwab clients has accelerated dramatically, growing by more than 300 percent in the first quarter of 2011 over the prior year.

While Schwab already offers country and sector-based research for investors, the firm will soon introduce a suite of new guidance capabilities including global macro-economic and currency commentary from Schwab and third-party experts. It will also offer round-the-clock customer service and support for international trading of both equities and currencies.

"As our clients continue to take a broader world view with their portfolios and their long-term goals, we want to be sure they have a platform that lets them access global markets seamlessly, and houses research, tools and guidance that enable them to become more confident and successful investors," said Brian McDonald, Senior Vice President of Active Investor and Core Client Experience at Charles Schwab. "We are confident Broadridge's holistic suite of solutions will help us get them there."

"Broadridge is pleased to be able to work with a respected firm like Schwab to create a best-in-class global trading experience for its clients," said Joseph Barra, President of International Securities Processing and Global Outsourcing Solutions at Broadridge. "Our technology and operations BPO expertise will help Schwab establish its platform as a truly international investing destination with both trading and custody capabilities." 

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