Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that AxiCorp, a leading provider of margin foreign exchange trading services for the retail and institutional markets, has selected Broadridge’s reconciliation solution for the automation of reconciliations and investigations for its global operations.
The Broadridge solution supports front- to back-office reconciliations across the trade lifecycle and will connect AxiCorp’s trading platforms to Broadridge’s FX & Liquidity (FXL) post-trade processing platform. The reconciliation solution is part of Broadridge’s portfolio of processing solutions that enables firms to manage their operational complexity and help to minimize their overall risk.
This integrated solution endeavors to help Financial Services organisations, like AxiCorp, through automated detection of trade exceptions. This solution should also increase the efficiency and accuracy of identifying and resolving inaccurate or missing transaction records for FX and FX Swap transactions.
“Firms like AxiCorp are continually optimizing and improving their operational efficiencies, risk management processes and operational infrastructure requirements to support their business expansion strategies,” said David Becker, head of Asia Pacific at Broadridge. “The combined power of Broadridge’s world-class reconciliations platform and FXL’s processing capabilities continues to give AxiCorp a platform to grow its global business whilst enhancing its operational effectiveness.”
“At AxiCorp, we support efforts to reduce risks. We are aware that effective risk management is an essential element of the integrity of our business,” said Simon Turner, CIO & Head of Operations at AxiCorp. “We continue to develop effective procedures and systems to manage risk, in each region of AxiCorp’s operations, i.e. the UK, Europe, Middle East and Asia-Pacific. The selection of Broadridge’s reconciliation platform helps us to achieve this increase in automated operational efficiency and effectiveness in our daily operations.” Turner added, “At AxiCorp, as we continue to grow, we look to explore innovative and valuable ideas, technologies and systems aimed at accelerating our growth. We believe that having a platform that’s flexible, scalable and user friendly allows us to become more self-sufficient in the management of our reconciliation processing. We are excited about several key new business requirements aimed at accelerating growth that have recently been implemented, so we welcome the support from Broadridge in helping us achieve these important strategic measures.”
The combined power of the Broadridge reconciliations platform and FXL’s processing capabilities is aimed to give firms a leading, world-class solution to manage its business as it continues to grow and expand.
Broadridge Financial Solutions, Inc. (NYSE:BR) is a leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With more than 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 on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 16 countries.
AxiCorp is a world leading provider of margin Forex trading services for the retail and institutional markets. The company is comprised of three divisions: AxiTrader for retail online Forex trading, AxiPrime for institutional trading and AxiSelect, a funding and development program for talented traders. AxiCorp is headquartered in Sydney, Australia, with global offices in London, Dubai, China and Moldova, and is authorised and regulated by the Australian Securities & Investments Commission.
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