Broadridge launches corporate actions system; upgrades reference data offering

Source: Broadridge Financial Solutions

Broadridge Financial Solutions (NYSE:BR), a leading global provider of technology-based outsourcing solutions to the financial services industry, announced the launch of its new Global Corporate Actions Solution (GCAS), a fully managed service that automates the entire corporate actions processing lifecycle.

Broadridge's GCAS is an advanced, real-time and flexible solution that delivers straight-through-processing for a variety of corporate action processing needs, including announcement data capture and cleansing' notification processing and entitlement calculations. Broadridge's GCAS provides the software, infrastructure and retained services needed to support end-to-end corporate actions processing. GCAS features the award-winning cama corporate actions processing engine by Information Mosaic. Information Mosaic is a recognized global leader in providing advanced, scalable custody, asset and wealth management solutions to the investor services industry. By combining its robust outsourcing capabilities with Information Mosaic's cama solution, Broadridge offers fully-automated corporate actions support to broker-dealers, asset managers and custodians worldwide.

By partnering with Broadridge, GCAS clients can reduce costs associated with IT overhead; better manage risk and enhance efficiency and accuracy by eliminating manual processing; and improve the quality of data used to process corporate action events. By shifting implementation and ongoing maintenance costs to Broadridge's trusted service, clients are able to focus on their core, revenue-generating activities while increasing customer satisfaction.

"Broadridge is pleased to introduce this unique and compelling value-added service for managing the corporate actions lifecycle," said Charlie Marchesani, President, Securities Processing Solutions, U.S., Broadridge. "Our Global Corporate Actions Solution is truly global by design, supporting our clients' worldwide operations and business lines wherever and whenever they operate," he added.

John Byrne, Chief Executive of Information Mosaic, commented: "This is a very significant strategic partnership for Information Mosaic and provides a unique channel for our cama solution. Broadridge recognizes and appreciates the investment we nt we continually put into the development of the cama functionality." Byrne added, "With a growing base of internationally renowned clients, including 6 of the top 10 global custodians, our business has moved to a significant new stage in its growth. An alliance with a company as well-respected in the industry as Broadridge is the most important calling card we could hope to have as we roll out our strategy."

Separately, Broadridge Financial Solutions (NYSE:BR) today announced the upgrade of its Global Reference Data Solution (GRDS). GRDS helps firms to reduce operational risk and downstream processing errors, while helping to minimize their overall data management expenditure.

The functional GRDS enhancements include greater data governance capabilities that allow firms to align their data management rules to their business processes, such as:
• sophisticated pricing capabilities for validating vendor data and handling exceptions
• greater flexibility in the definition and management of data integrity, allowing different consumers to specify their critical data attributes in a non-linear fashion [

GRDS is a managed service that provides the software, hardware and resources needed to support the acquisition, cleansing, storage and delivery of "golden copy" reference data. Unique to the market, GRDS uses GoldenSource®'s Enterprise Data Management infrastructure coupled with the recognized outsourcing capabilities of Broadridge.

Broadridge's Global Reference Data Solution includes a flexible, client-defined rules engine that enables firms to manage both simple and complex securities data. GRDS is also highly scalable, supporting a firm's growth, especially when that growth is achieved by entering new markets. The Global Reference Data Solution is a vital tool for mitigating risks where reference data is critical in the evaluation of potential exposure.

"By implementing this offering, clients gain greater control of their reference data which results in improved management of risk exposure, while allowing firms to reduce their overall data management expenditure," said Richard Stumm, Vice President-Data Management, Securities Processing Solutions, U.S., Broadridge. "Pairing the GRDS offering with our BPO Managed Data Services provides a total solution for achieving high quality reference data in a pay-as-you-go model."

Key benefits of the enhanced Global Reference Data Solution include the following:

  • Reduce operational risk and downstream processing errors by improving the quality of your Reference Data
  • Rapidly enter new markets by reducing implementation risk and time to market
  • Reduce reference data management expenditure

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