Broadridge Financial Solutions (NYSE:BR) today announced that Panmure Gordon (UK) Limited has signed a multi-year agreement to continue using Gloss, Broadridge's market leading international securities processing platform.
Panmure Gordon has a 130-year history as a corporate and institutional stockbroker and investment bank and has been a user of Gloss, on an on-site licensed basis and subsequently using Broadridge's service bureau, for the past eight years. Broadridge's Gloss solution processes Panmure Gordon's institutional stockbroking business, primarily in the UK and Switzerland. Specifically, Gloss processes the settlement and accounting of Panmure Gordon's equity trades. It interfaces with Panmure Gordon's front office system to feed all of its international equity trades into Gloss to ensure seamless processing throughput.
Gloss is a real-time, multi-currency, transaction processing and record keeping solution for post-execution processing of international securities. It automates the complete 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. On a global basis, it helps businesses to quickly and efficiently capture new revenue opportunities without investing in system capacity or IT infrastructure, while benefiting from the highest levels of operational efficiency.
"Gloss has proven to be a cost-effective processing platform for our business and we continue to derive value through Broadridge's strong, partnership-oriented working relationship with our organisation," said Nick Cook, Head of Operations, Panmure Gordon & Co. "Gloss is a scalable solution that allows us to take on new trade flows as and when we need to, while bringing increasing value to our business."
"We are thrilled that Panmure Gordon has decided to extend its contract with us to process their equity trading business. We are dedicated to providing world class standards of client service and to continually investing in our products which has helped us in cementing our long-standing relationship with Panmure Gordon," said Tom Carey, President, Securities Processing Solutions, International, Broadridge. "Gloss allows our clients to expand into new global markets and asset classes faster and at a lower cost and make their costs variable, in line with business volumes."