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Cameron Stockbrokers Limited signs for Broadridge’s SUMMIT broker client accounting system

Broadridge Financial Solutions, Inc. (NYSE:BR), formerly ADP Brokerage Services Group, has announced that Cameron Stockbrokers Limited (Cameron) has commenced live operations on its SUMMIT platform in Australia.

Cameron, an independently owned full service broker, signed a multi-year contract with Broadridge for the processing of its equities brokerage processing operations.

Under the agreement, Cameron will use Broadridge’s Australian broker client accounting system, SUMMIT, to automate the processing lifecycle of its equities operations for both domestic Australian and international traded securities from trade capture through to confirmation, position management, multi-currency books and records, clearing house reporting and settlement. SUMMIT will also provide integrated processing for corporate actions.

In addition, Cameron will also use SUMMIT’s suite of service adapters for local market connectivity. This includes connectivity to the Australian Stock Exchange (ASX) ITS order processing service, the ASX CHESS settlement service, and IRESS for ETC allocation and confirmation.

Fraser Moodie, Manager, Broadridge Australia, said: “We are delighted to welcome Cameron Stockbrokers to our customer portfolio in Australia. We look forward to meeting their requirements through our commitment to product leadership and world class standards of service.”

Steven Pritchard, Executive Chairman of Cameron Stockbrokers Limited, said: “When we looked at replacing our existing system, one of the things we looked for was a system based upon Microsoft technologies to enable us to take advantage of the increase in productivity that comes from using a windows based system. Broadridge’s SUMMIT was the only system currently available in the Australian marketplace that could meet our requirements.”