Phoenix Investment House, a division of Phoenix Holdings, is enhancing international institutional trading on the Tel Aviv Stock Exchange (TASE) by integrating Broadridge's advanced Order Management System (OMS). This collaboration signifies a step in expanding global access to Israeli capital markets.

Phoenix Partners with Broadridge for TASE Access Expansion

In a move to boost its international trading capabilities, Phoenix Investment House has chosen Broadridge's OMS. The collaboration will offer direct market access to TASE, an advantage particularly beneficial for Phoenix's institutional clients.

Elad Burshtein, the CEO of Phoenix's Brokerage and Portfolio Management platform, emphasized the importance of this partnership, noting Broadridge's role in enhancing the trading toolkit for international clients accessing TASE.

"We are committed to innovation and providing strategic value in Israeli capital markets," Elad Burshtein, the CEO of Phoenix's Brokerage and Portfolio Management group, said.

The Tel Aviv market has seen increased foreign investment interest in recent years. By offering global investors direct market access, Phoenix aims to boost international trading volumes further. The technology implementation aligns with Phoenix's focus on improving operational efficiency.

Seeking to expand its scope, in 2023, TASE proposed the introduction of cryptocurrency trading. It also integrated analytical tools provided by TipRanks.

Enhancing Trading Capabilities

Broadridge's fully hosted OMS has advanced trading tools and reliable technology. It is designed to bolster Phoenix's value proposition to institutional clients, providing a robust platform for both high- and low-touch trading workflows. The OMS further offers comprehensive tools for compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term and seamless integration across various stages of the trade lifecycle.

Ofir Gefen, the Managing Director at Broadridge, said the partnership enables Phoenix to enhance its institutional trading offerings. "Israel is an important market for Broadridge, and we look forward to a lasting relationship with Phoenix," Gefen stated.

The system's connectivity to over 200 exchanges and multi-asset class capabilities make it a versatile choice for Phoenix. Currently, Broadridge's OMS is utilized by over 150 firms and 5,000 active traders globally.

Broadridge's Newest Partnerships

Recently, HSBC became the second client to implement Broadridge's distributed ledger technology (DLT) solution for repo transactions. By leveraging DLT and smart contracts, HSBC aims to achieve greater efficiency, scalability Scalability Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain Read this Term, and risk reduction in its operations. Broadridge first launched this DLT repo solution in October 2022.

In another recent innovation, Broadridge launched BondGPT+, an AI-powered tool for processing complex bond-related queries and identifying corporate bonds. BondGPT+ combines OpenAI's GPT-4 technology with Broadridge's proprietary solutions, allowing enterprises to integrate their data securely. It builds on BondGPT, a previous AI solution offered by LTX, a Broadridge subsidiary.

Recently, Broadridge reported financial results for the first quarter of its 2024 fiscal year. The company showed strong growth with an increase of 8% in total revenue to $871 million and a surge of 30% in adjusted earnings per share to $1.09.