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Pershing teams up with Broadridge Financial

Pershing teams up with Broadridge Financial

Reporter
— 1 minute read

Pershing Securities Australia has adopted US-based Broadridge Financial Solutions' Australian post-trade processing solution.

A joint statement by the two firms said Pershing will use the 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," said the statement.

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"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 said.

The new solution will process equities, options and managed funds, covering the "full post-trade life cycle", said the statement.

"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," it said.

Pershing Securities Australia chairman Craig Mason said Broadridge is a "proven and trusted global provider".

"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," Mr Mason said.

 

Pershing teams up with Broadridge Financial
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