Broadridge launches trade expense managed service

Broadridge launches trade expense managed service
13.04.2015 01:00 am

Broadridge launches trade expense managed service

Broadridge Financial Solutions, Inc. (NYSE:BR) has launched a new managed service offering to help capital markets firms streamline and automate the costly and increasingly complex area of trade expense management.

The company’s expanded managed service offering provides powerful analytic capabilities and helps standardize and optimize the management of trade-related fees.

“Global capital markets firms have made great strides controlling staffing and technology costs, but regulatory and market pressures continue to weigh heavily on the cost of trading,” said Michael Alexander, President, Wealth & Capital Markets Solutions, Broadridge. “For broker-dealers, the management of trade-related fees is the third largest operating cost after technology and people. We have integrated our proven revenue and expense management technology into our industry leading capital markets managed service to help firms rationalize these costs and further streamline their trading operations.”

“Trade expense management is a hot button issue amongst C-level executives at capital markets firms,” said Terence Faherty, Head of Product Strategy, Broadridge Revenue and Expense Management. “We’ve developed this global offering to address key pain points in managing trade expenses, including revenue leakage, over-billing and other costly errors.” 

“Broadridge manages the entire process across the enterprise, delivering unparalleled accuracy, controls and analytics and enabling firms to gain efficiencies through accurate expense accruals and proper allocation of fees to each customer using the same rules as the exchanges.”

The new managed service capability is supported by Broadridge’s Revport revenue and expense management technology, which is used by more than 140 buy- and sell-side firms around the world. Built from the ground up as an accounting engine that is multi-tenant and multi-currency, the technology supports every fee type and asset class across the industry. 

The solution helps manage day-to-day operations to enable real-time visibility into key processes, invoice reconciliation, counterparty management, exception management and revenue forecasts. By facilitating rate agreements and providing on-demand support to the front office and trading partners, Broadridge helps global capital markets firms centralize and optimize processes to bring control into their cost-base.

Related News

IAMAI to host world’s largest virtual Global Fintech Fest

Internet and Mobile Association of India [IAMAI], and its sister organisations, Payments Council of India, [PCI] and Fintech Convergence Council [FCC] are jointly organising... Read more »

Lemonade Raises $319 Million In U.S. IPO

Lemonade, which is backed by SoftBank Group Corp, is set to raise $319 million in its U.S. initial public offering and Lemonade, Inc. (“Lemonade”) today announced the pricing... Read more »

Rise in M&A predicted as retail banks navigate post-COVID crash, latest Kearney analysis reveals

Analysis from global consultancy partnership Kearney predicts a rise in mergers and... Read more »

Wolters Kluwer triumphs in operational risk awards

The ... Read more »

Reuters Events Discuss the Resilience of the Energy Market Through Volatility

Reuters Events will be hosting a free online webinar series focused on commodity trading and commodity value chains.

The energy industry has never seen a year like it.... Read more »

Sidetrade Joins the Ranks of Euronext’s Rising Tech Stars

Sidetrade (Euronext Growth: ALBFR.PA), the artificial intelligence platform dedicated to accelerating company revenue and cashflow, has earned the European Rising... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel