While banks and individual platforms may offer strong products and services, the growth of the services offered by pure-play technology provider Broadridge Financial Solutions brings a new dimension to buy-side client servicing across Asia, especially those with regional treasury centres. Following its acquisition a year ago of TwoFour Systems, an FX technology provider, Broadridge has become more proactive in FX in Asia.
“There is a lack of electronification among participants in the Asian market,” says Chris Davis, Managing Director of Broadridge FX and Liquidity (FXL). “There are many institutions that still do things manually so we provide an automated solution that allows organisations to control how activity is received and transmitted all the way through to SWIFT. We have a componetised solution that does front, middle and back office processing and gives organisations a level of automation and regulatory reporting that is painful to do manually. The multibank and single bank platforms provide an execution management system (EMS). All of those platforms are leveraged by our clients. We consume that activity. We show an organisation aggregated positions and risk across venues, across currencies, across geographies and on a global basis, all in real time. We also handle the back office processing, confirmations, matching, net activity and settlements. We account for it, we produce statements, we interface with prime brokers – FXL is a very broad, robust offering. We are also able to do this with exchange-based transactions, and now support CFDs and spread betting.”