Bloomberg Tradebook Goes Self-Clearing With Broadridge BPO Solutions

Broadridge Financial Solutions, a provider of investor communications and technology-driven solutions to the financial services industry, has announced that Bloomberg LP, has adopted Broadridge products for its Tradebook offering. According to the partnership, Bloomberg will be using Broadridge’s business process outsourcing (BPO) solution to allow it to provide self-clearing of US Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term. Tradebook, provides trading solutions for global equities, futures, and FX trading. The deal now allows Bloomberg to provide more comprehensive support of the life-cycle of a trade.

Explaining the benefits for Bloomberg Tradebook, Ray Tierney, CEO of Bloomberg Tradebook told Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates, "by transitioning to a self-clearing model, Bloomberg Tradebook is able to minimize fixed-cost investment in technology and operational infrastructure. It also enables Tradebook to manage client relationships more closely, which enhances service quality and the client experience."

In its prepared statement, Tim Gokey, Chief Operating Officer, Broadridge said “Since first announcing the agreement in February 2012, we have been working closely with Bloomberg Tradebook to ensure a seamless transition to self-clearing for U.S. equities. Broadridge’s BPO model supports all aspects of the firm’s back-office operations, enabling Bloomberg Tradebook to focus on client service and operational efficiency.”