Broadridge Financial Solutions, Inc. (BR) today announced that it has made a strategic investment and entered into a referral, sales and marketing alliance with LiquidX, Inc. (LiquidX), the provider of an electronic exchange platform for global trade finance.
Founded by former TradeWeb CEO Jim Toffey, LiquidX has a unique exchange platform that brings significant liquidity and transparency to the historically difficult trading of corporate receivables by connecting sell-side and buy-side participants. LiquidX unlocks balance sheet capital from large corporations through its innovative technology-driven auction market.
Through the alliance, Broadridge will facilitate access to LiquidX's trade finance exchange platform for the nearly 2,000 corporations globally with which Broadridge has relationships. The strategic collaboration with LiquidX will enable Broadridge to connect corporate treasury and finance professionals with the capital markets and trading desks of its large network of corporate, bank and asset management clients.
"LiquidX's innovative technology combined with Broadridge's leadership role in facilitating trading and settlement on behalf of its large global client network will provide significant value in addressing liquidity and execution issues within trade finance," said Charlie Marchesani, president of Global Technology and Operations at Broadridge. "Our alliance with LiquidX is a strategic extension of our processing capabilities to a new emerging electronic asset class marketplace."
Jim Toffey, CEO and founder of LiquidX, said: "We are excited to partner with Broadridge to greatly expand the distribution reach of our highly-scalable and rapidly-growing platform."
Chris Perry, president of Global Sales, Marketing and Solutions at Broadridge, said: "Broadridge's continued focus is on bringing revenue-generating, value-added solutions to our network of clients. Our unique business model enables us to serve as the intersection between corporate, buy-side and sell-side firms and work with LiquidX to bring needed liquidity to an illiquid asset class."