Broadridge Expands Matrix Financial Solutions Following Acquisition

Broadridge Financial Solutions, Inc. (NYSE:BR) has consummated its Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of the trade processing business of Wilmington Trust Retirement and Institutional Services’ unit of M&T Bank Corporation (NYSE:MTB), according to a Broadridge statement.

The recently acquired business is being merged with Broadridge’s Matrix Financial Solutions, a mutual fund and ETF trade-processing platform that that will service more than a combined $300 billion in assets under administration.

Broadridge originally announced its agreement to acquire the business from Wilmington Trust Retirement and Institutional Services back on January 21, 2015. Following the feal, the acquired trade-processing business will be assimilated into the Matrix Financial Solutions business of Broadridge’s Mutual Funds and Retirement Solutions Group.

According to Gerard F. Scavelli, President of Broadridge’s Mutual Funds and Retirement Solutions Group in a recent statement on the acquisition, “The addition of Wilmington’s products and service team to Matrix’s open-architecture platform enables us to expand our retirement solutions offering and provide comprehensive support for the growing qualified and non-qualified plan services market.”

“Broadridge is committed to offering deeper, innovative capabilities for third-party administrators, financial advisors, record-keepers and banks. We are delighted to welcome Wilmington’s customers to our client base, and associates to our organization,” he added.

Back in February, Pershing Securities Australia Ltd., part of BNY Mellon, integrated Broadridge Financial Solutions Inc.’s post-trade processing solutions suite for third-party domestic Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term.