Broadridge Financial Solutions (NYSE:BR) today announced the latest release of Gloss, its international securities processing platform.
This latest release, Gloss version 6, provides an integrated solution for global and domestic processing of securities in the major European and Asian markets, with new and enhanced functionality for equities and fixed-income instruments. This solution is available as an ASP or on-site licensed offering.
Gloss' international service capability has been enhanced to extend its Japanese functionality. It can now offer full processing for Japanese equities, convertible bonds and subscription rights processed by on-shore Japanese broker-dealer operations. It also includes Japanese regulatory and legal reporting, and in combination with Broadridge's JASDEC adapter, it can support fully-integrated matching, settlement and delivery prioritisation for JASDEC.
The new integrated release also supports other Asia Pacific markets. For example, for Hong Kong it interfaces with Broadridge's CCASS adapter which provides two-way connectivity with Hong Kong Exchanges and Clearing Limited's Central Clearing and Settlement System.
Gloss version 6 includes Broadridge's new multi-language browser-based user interface and exception management system, Task Explorer, a proactive, exception-handling system for its international securities processing services. Task Explorer now enables firms to automate the generation and assignment of tasks for back- and middle-office operations.
Version 6 of Gloss incorporates further capabilities for its central counterparty/netting functionality, which now includes processing for most major market venues.
Another feature is enhanced functionality for fixed-income processing; in particular broader functionality is provided for non-interest bearing bonds and commercial paper through constant yield amortisation processing and yield pricing.
Broadridge continues to substantially extend the scalability of the Gloss solution. Version 6 is now suitable for all sizes of operation from small and medium brokerage firms processing low volumes of trades per day to those processing over a million trades per day. This is demonstrated by the diverse client base processing on the platform.
Gloss is a real-time, multi-currency, transaction processing and record keeping solution for post-execution processing of international securities. It automates the trade processing lifecycle from trade capture through to confirmation and settlement, to provide the highest levels of straight-through-processing and efficient and timely exception management.
"We continue to make substantial investments in Gloss in line with market demand in terms of functional breadth, market specific features and scalability," said Robin Kneale, Head of Strategy, Securities Processing Solutions, International, Broadridge. "This latest version of Gloss underlines our ongoing commitment to delivering value to firms operating in the international securities market."