Pershing Securities Australia Signs with Broadridge to Advance its Multi-Asset Post-Trade Processing
New platform to increase operational efficiencies, enable timely response to regulatory and market changes
Broadridge Financial Solutions, Inc. (NYSE: BR) today announced that Pershing Securities Australia Limited, part of BNY Mellon, has selected Broadridge’s Australian post-trade processing solution as its new middle- and back-office processing platform for third-party domestic clearing. The solution is designed to increase process efficiencies and provide flexibility to support forthcoming market and regulatory changes based on a modern platform.
Pershing Securities Australia will use the solution to support its correspondent base of licensed member-participant brokers and large user base of securities dealers. It will process a full range of asset classes, including equities, options and managed funds, covering the full post-trade lifecycle - from trade capture and confirmation to settlement and accounting. The solution will also provide real-time position management and connectivity to payment and settlement providers and enable Pershing Securities Australia to increase automation through high levels of straight-through processing, real-time business views and proactive workflow controls that help reduce risk through fast-track analysis and repair of processing exceptions.
Craig Mason, Pershing Securities Australia Chairman, said, “Broadridge is a proven and trusted global provider that shares our commitment to the highest standards of client service. Its solution will support our drive for efficiency and high-quality service across our operation, and give us a firm foundation to adapt to future infrastructural and regulatory changes in the Australian market.”
Akhter Khan, Broadridge’s general manager of Global Technology and Operations Solutions in Asia-Pacific, said, “Perhaps more than any time in history, operational excellence has become key to profitability, growth and sound risk management in financial services. Pershing Securities Australia’s forward-thinking approach to its operations is an important advantage, and it is our privilege to welcome them to the growing community of firms using our Australian solution.”
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge’s investor communications, securities processing and business process outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge’s infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,700 full-time associates in 14 countries.
For more information about Broadridge, please visit www.broadridge.com.
About Pershing Securities Australia
Pershing Securities Australia Pty Ltd (ABN 60 136 184 962, AFSL No.338264) provides a market leading third-party clearing, settlement and execution service for stockbrokers, financial advisers, financial intermediaries and any other firm trading on the Australian Securities Exchange (ASX), Chi-X Australia Pty Ltd (Chi-X) and Asia Pacific Stock Exchange Limited (APX). Pershing Securities Australia holds an Australian Financial Services Licence and is a market participant of the ASX and a clearing participant of the Australian Clearing House and is an affiliate of Pershing LLC (member FINRA/ NYSE/SIPC), a BNY Mellon company.
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