User Contributed News – Broadridge Financial Solutions, Inc. (NYSE:BR) has launched a new managed service offering to help capital markets firms streamline and automate the costly and increasingly complex area of trade expense management. The company\u2019s expanded managed service offering provides powerful analytic capabilities and helps standardize and optimize the management of trade-related fees.<\/p>\n
\u201cGlobal capital markets firms have made great strides controlling staffing and technology costs, but regulatory and market pressures continue to weigh heavily on the cost of trading,\u201d said Michael Alexander, President, Wealth & Capital Markets Solutions, Broadridge. \u201cFor broker-dealers, the management of trade-related fees is the third largest operating cost after technology and people. We have integrated our proven revenue and expense management technology into our industry leading capital markets managed service to help firms rationalize these costs and further streamline their trading operations.\u201d<\/p>\n
\u201cTrade expense management is a hot button issue amongst C-level executives at capital markets firms,\u201d said Terence Faherty, Head of Product Strategy, Broadridge Revenue and Expense Management. \u201cWe\u2019ve developed this global offering to address key pain points in managing trade expenses, including revenue leakage, over-billing and other costly errors.\u201d<\/p>\n
\u201cBroadridge manages the entire process across the enterprise, delivering unparalleled accuracy, controls and analytics and enabling firms to gain efficiencies through accurate expense accruals and proper allocation of fees to each customer using the same rules as the exchanges.\u201d<\/p>\n
The new managed service capability is supported by Broadridge\u2019s Revport revenue and expense management technology, which is used by more than 140 buy- and sell-side firms around the world. Built from the ground up as an accounting engine that is multi-tenant and multi-currency, the technology supports every fee type and asset class across the industry.<\/p>\n
The solution helps manage day-to-day operations to enable real-time visibility into key processes, invoice reconciliation, counterparty management, exception management and revenue forecasts. By facilitating rate agreements and providing on-demand support to the front office and trading partners, Broadridge helps global capital markets firms centralize and optimize processes to bring control into their cost-base.<\/p>\n","protected":false},"excerpt":{"rendered":"
User Contributed News – Broadridge Financial Solutions, Inc. (NYSE:BR) has launched a new managed service offering to help capital markets firms streamline and automate the costly and increasingly complex area of trade expense management. The company\u2019s expanded managed service offering […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16046],"tags":[],"class_list":["post-47478","post","type-post","status-publish","format-standard","hentry","category-user-contributed-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/47478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=47478"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/47478\/revisions"}],"predecessor-version":[{"id":47482,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/47478\/revisions\/47482"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=47478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=47478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=47478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}