Providing interoperability across networks,
promoting standardization in Exchange Traded Derivatives and
enabling clients with faster connectivity capabilities
NEW
YORK, Sept. 5, 2024 /PRNewswire/ -- FIA Tech, a
leading futures industry technology provider, today announced that
it will leverage Broadridge Financial Solutions
Inc. (NYSE:BR), cutting-edge COMS (Connectivity, Onboarding,
and Monitoring Service) solution along with its NYFIX Order Routing
Network to provide clients interoperability across networks and
promote standardization in the exchange traded derivatives (ETD)
space.
Broadridge and FIA will streamline onboarding for brokers and
clients to the Trade Data Network (TDN) enhancing operational
efficiency and transparency. Clients joining TDN will benefit
from faster onboarding of counterparties and streamlined processing
with Broadridge's vast network of broker counterparties and robust
NYFIX Order Routing Network.
"TDN is focused on improving the ETD market structure,
simplifying post-trade and enhancing operational resiliency," said
Michael Torretta, Head of Strategic
Alliances at FIA Tech. "Connecting TDN with Broadridge's widely
used network for ETD is an example of our strategy to create value
for our partners, their clients and increase interoperability to
our network."
"We are thrilled to work with FIA Tech, a renowned name in the
futures and options industry," said George
Rosenberger, General Manager for NYFIX at Broadridge Trading
and Connectivity Solutions. "Broadridge's COMS and NYFIX offerings
will move the industry forward."
In an industry where FIX connectivity has become commoditized,
outsourcing this critical infrastructure is becoming increasingly
beneficial. This partnership highlights the growing trend of
financial firms focusing on their core business by leveraging
external connectivity solutions.
About FIA Tech
FIA Tech is a leading technology
provider to the exchange traded derivatives industry. Owned by a
consortium of twelve leading clearing firms and the Futures
Industry Association (FIA), FIA Tech is committed to serving the
industry and launching innovative solutions to improve market
infrastructure across the listed and cleared derivatives industry.
FIA Tech works in close partnership with the broader industry,
including exchanges, clearinghouses, clearing firms and other
intermediaries, as well as independent software vendors, buyside
firms and end users to bring efficiency to the exchange traded and
cleared derivatives industry.
About Broadridge
Broadridge Financial Solutions
(NYSE: BR), is a global technology leader with the trusted
expertise and transformative technology to help clients and the
financial services industry operate, innovate, and grow. We power
investing, governance, and communications for our clients – driving
operational resiliency, elevating business performance, and
transforming investor experiences.
Our technology and operations platforms underpin the daily
trading of more than $10 trillion of
equities, fixed income and other securities globally. A certified
Great Place to Work®, Broadridge is part of the S&P 500® Index,
employing over 14,000 associates in 21 countries. For more
information about us, please visit www.broadridge.com.
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Gregg
Rosenberg
Global Head of Corporate Communications
Gregg.Rosenberg@broadridge.com
FIA Tech contacts:
Media
Candice Adam
Head of Marketing and Communications
cadam@fia-tech.com
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SOURCE Broadridge Financial Solutions, Inc.