Pershing Securities Australia Ltd., part of BNY Mellon, has integrated Broadridge Financial Solutions Inc.'s (NYSE: BR) post-trade processing solutions suite for third-party domestic clearing.
Earlier this month, Broadridge acquired TwoFour Systems for an undisclosed sum leaving TwoFour Systems to be branded as Broadridge FX and Liquidity Solutions.
The new partnership will see Pershing Securities utilize a revamped middle and back-office processing platform from Broadridge Financial Solutions. The move will aim to increase efficiency across Pershing Securities’ platform, while conforming to shifting regulatory changes.
In addition, Pershing Securities will utilize the new solution to cater to its base of licensed member-participant brokers and large user base of securities dealers. Furthermore, the solution will encompass a wide range of asset classes, including equities, options and managed funds.
According to Craig Mason, Pershing Securities Australia Chairman, in a recent statement on the accord, “Broadridge is a proven and trusted global provider that shares our commitment to the highest standards of client service. Its solution will support our drive for efficiency and high-quality service across our operation, and give us a firm foundation to adapt to future infrastructural and regulatory changes in the Australian market.”
“Perhaps more than any time in history, operational excellence has become key to profitability, growth and sound Risk Management in financial services. Pershing Securities Australia’s forward-thinking approach to its operations is an important advantage, and it is our privilege to welcome them to the growing community of firms using our Australian solution,” added Akhter Khan, Broadridge’s general manager of global technology and operations solutions – APAC, in an accompanying statement.
