Broadridge acquires post-trade solutions business
Broadridge Financial Solutions has acquired Alpha Omega, a market-leading FIX-based post-trade solutions provider for the investment management industry. This acquisition builds on Broadridge's recent acquisition of Itiviti.
The acquisition, which encompasses the remaining 68 per cent of Alpha Omega, will enable Broadridge to fully consolidate Alpha Omega’s post-trade matching and consolidation solution into its existing NYFIX connectivity and FIX infrastructure to better automate buy-side and sell-side firms’ trade matching processes and further accelerates Broadridge’s product roadmap.
“We are excited to formalise our four-year strategic partnership with Alpha Omega through this acquisition,” says Ray Tierney, President of Itiviti, a Broadridge business. “We are leading technology innovation in post-trade, and this acquisition is a testament to our continued growth and momentum in transforming this space. NYFIX Matching is the first ‘one-stop’ platform to handle all of a fund’s trade matching needs across various product types and asset classes.”
Alpha Omega brings invaluable expertise in advanced FIX-based technology for asset managers and broker/dealers in all areas covering automated allocation, confirmation and affirmation of trades for equities, fixed income securities, and derivatives.
NYFIX Matching, which combines Alpha Omega’s FIXAffirm solution with Itiviti’s NYFIX network, provides the market a single, consolidated platform to handle the entire affirmation process with the same speed and efficiencies of trading now applied to the post-trade piece of the workflow. Buy-side institutions can easily access NYFIX Matching through their existing NYFIX connections as a fully managed service. Through this service, the buy-side can allocate and match their trades, accomplishing same-day affirmation with a global community of more than 100 brokers. This extension of the NYFIX service into post-trade will deliver processing efficiencies with significant cost savings over current solutions.