TORONTO, Nov. 30, 2011 - Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that Broadridge's Securities Processing Solutions Fixed Income Division has expanded its ClearanceProSM processing capabilities to integrate with CDS Clearing and Depository Services Inc. (CDS), Canada's national securities depository, clearing and settlement hub. ClearancePro's integration with CDS enables subscribers to eliminate the use of manual tickets and fully process all CDSX-eligible trades entered into any trade processing solution and process them directly through CDS for clearance and settlement.
This streamlined approach offers banks the ability to identify exceptions earlier in the day, reducing trade fail risks and boosting operational efficiency. The new capability provides the only end-to-end clearance and settlement solution from trade capture to clearance and settlement offered in Canada for broker-dealers and banks.
ClearancePro is a robust message processing product suite that provides extensive real-time exception management and data mining tools for complex clearance and settlement of fixed income trades. With ClearancePro, managers rely less on the CDS terminal, thereby vastly improving on-demand front-/middle-office reporting capabilities.
"ClearancePro's connection with CDS enables Broadridge to deliver to clients a greater range of real-time, straight-through-processing functionality," said Mike Hopkins, President, Securities Processing Solutions Fixed Income, Broadridge. "Broadridge's expanded fixed income processing platform can help banks and brokerage firms more effectively manage risk while they focus on expanding their business."
When firms outsource to Broadridge through a business process outsourcing (BPO) or hosted model, firms can cost-effectively expand and transform their businesses. With Broadridge's scalable platform they can go to market with new fixed income capabilities quicker, manage risk more effectively and support regulatory reporting requirements more easily.
The Broadridge fixed income platform processes over $4.0 trillion in fixed income trades per day of United States (U.S.) and Canadian securities. Broadridge is the partner of choice for 13 of the 20 fixed income primary dealers designated by the Federal Reserve Bank that outsource their processing and reporting functions.