Broadridge Financial Solutions, Inc. (Broadridge), the global fintech company, has joined forces with Point Focal, an analytics solution provider, to offer clients advanced alternative data-driven quantitative insights and portfolio analytics.
The partnership aims to provide automated reports that combine relevant data, visual analytics and Natural Language Processing (NLP) to quickly identify signals to improve single stock and portfolio performance while reducing exposure risk.
Broadridge Partners with Point Focal
Broadridge's NYFIX platform, an order-routing network, will integrate Point Focal's insights, offering custom portfolios and watch lists built from Point Focal's aggregated alternative data. The data will be obtained from leading market sources and delivered in a digestible and actionable summary format.
The NYFIX platform is used by buy-side asset and wealth managers, portfolio managers, traders, research analysts, sell-side service providers, and RIAs, providing them with a comprehensive view of the market.
"By incorporating Point Focal's analytics into the NYFIX order routing network, we're able to deliver a new level of portfolio insights for clients," George Rosenberger, the General Manager for NYFIX at Broadridge Trading and Connectivity Solutions, said.
"Point Focal provides a unique lens on the market which will help add alpha to the trading process, and these new insights will rapidly improve performance while mitigating execution risk and simplify trading."
Reports prepared by Point Focal, available directly from NYFIX, will include sentiment assessments, earnings forecasts and summaries, pre-market reports with the latest news, portfolio performance summary reports and weekly summaries of stock market activity.
Thomas Bryant, the Director of Sales and Business Development at Point Focal, believes that combining Point Focal's analytic assets with Broadridge's network and ability to scale creates an unparalleled experience for decision-makers.
Check out the FMLS22 session on "Is Online Trading Keeping up in The Metaverse?"
Higher Revenues Reported by Broadridge
Last week the global fintech leader published its financials for the second quarter of fiscal 2023, reporting a 3% yearly rise in total revenue to about $1.3 billion. In addition, the recurring revenue increased by 6 percent to $840 million.
The operating income rose 57% to $108 million, with a margin improvement from 5.5% to 8.3%. Meanwhile, the company's adjusted operating income saw a 23% increase, jumping from $141 million to $173 million.
"Broadridge delivered strong results in the second quarter. We continue to see growth driven by conversion of sales backlog into new revenue and strength in investor participation," Tim Gokey, the Chief Executive at Broadridge, commented in the recent financial report.
Broadridge Expands Partnership with Other Platforms
Broadridge is continuously enhancing its offerings through partnerships with other platforms. In recent months, it has joined forces with IntraFi and Glue42 to improve its services. IntraFi is a privately held firm and US banking network, while Glue42 offers a desktop integration platform that allows users to configure and use multi-app workflows.
Additionally, the company has partnered with Coinbase to provide interoperability between Coinbase Prime and NYFIX order-routing network.
Recently, Broadridge strengthened its partnership with IGM Financial by allowing more use of its R.Broker solution. On the other hand, eToro sought out the services of Broadridge to provide proxy voting services.
