Broadridge Enhances NYFIX Matching Solution with Symphony Messaging

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) has announced a partnership with Symphony to integrate messaging technology into its NYFIX Matching platform. The integration makes NYFIX Matching the first post-trade matching tool in the industry to offer integrated messaging capabilities.

The enhancement enables asset managers to communicate directly with brokers through Symphony's secure messaging platform, facilitating faster resolution of post-trade discrepancies and improving operational efficiency. The functionality is now available for NYFIX customers and addresses a critical market gap by responding to client demands for more direct and faster communication with brokers.

The integration aims to enhance compliance, transparency, and streamlined resolution of post-trade discrepancies while supporting the financial industry's movement towards workflow digitization.

Positive

• First-mover advantage in post-trade matching tools with integrated messaging
• Enhanced operational efficiency through faster resolution of trade discrepancies
• Strategic partnership with Symphony strengthens market position

Negative

• None.

NYFIX Matching is the first post-trade matching tool with messaging functionality, enabling
compliance, greater transparency and streamlined resolution of post-trade discrepancies

NEW YORK, Feb. 4, 2025 /PRNewswire/ -- To streamline communication between asset managers and their executing brokers, Broadridge Financial Solutions Inc. (NYSE: BR), a global Fintech leader, today announced a partnership with Symphony, the communication and markets technology company, to integrate messaging technology into the NYFIX Matching platform. This latest innovation empowers asset managers to communicate directly with brokers via Symphony's secure messaging platform, enabling compliance, transparency and streamlined resolution of post-trade discrepancies.

"By integrating Symphony's messaging functionality, we are enabling clients to resolve post-trade inaccuracies faster and with greater ease, ultimately enhancing operational efficiency," said Georger Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions. "This is the latest example of simplifying the client experience with innovative solutions to meet their evolving needs and help them better operate, innovate and grow."

As the first post-trade matching tool in the industry to offer integrated messaging capabilities, NYFIX Matching addresses a critical gap in the market. The introduction of messaging functionality responds directly to client feedback, who expressed a desire for faster and more direct communication with brokers. This functionality is now available for NYFIX customers.

"As the financial industry advances towards workflow digitization, it has become increasingly reliant on modern, secure, and interoperable collaboration tools to mitigate risks and increase efficiencies," said Brad Levy, CEO of Symphony. "Through this collaboration, we are able to accelerate trade flows and improve real-time transactional accuracy for Broadridge's clients."

For more information about Broadridge's NYFIX Matching solution, please see here.

About Broadridge

Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. 

Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries. For more information, please visit www.broadridge.com. 

Broadridge Contacts:

Investors: 

Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com 

Media:
Gregg Rosenberg
Global Head of Corporate Communications
Gregg.Rosenberg@broadridge.com 

About Symphony
Symphony is a communication and markets technology company powered by interconnected platforms: messaging, voice, directory and analytics. Our modular technology – built for global finance – enables over 1,000 institutions to ensure data security, navigate complex regulatory compliance and optimize business interactions.

Symphony Contact
Oliver Clarke
Communications Associate
+1 (203) 343 9853 / oliver.clarke@symphony.com 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/broadridge-enhances-nyfix-matching-solution-with-symphony-messaging-302364605.html

SOURCE Broadridge Financial Solutions, Inc.

FAQ

What new feature has Broadridge (BR) added to its NYFIX Matching platform?

Broadridge has integrated Symphony's messaging technology into its NYFIX Matching platform, making it the first post-trade matching tool with messaging functionality.

How does the Symphony integration benefit Broadridge (BR) customers?

The integration enables asset managers to communicate directly with brokers, resolve post-trade discrepancies faster, and enhance operational efficiency while maintaining compliance and transparency.

When will the new Symphony messaging feature be available for Broadridge (BR) NYFIX customers?

The messaging functionality is currently available for NYFIX customers.

What market gap does Broadridge's (BR) NYFIX Matching update address?

The update addresses the need for faster and more direct communication between asset managers and brokers in post-trade operations, being the first in the industry to offer integrated messaging capabilities.