Communication and markets technology business Symphony has partnered with Broadridge Financial Solutions with the aim of streamlining communication between asset managers and their executing brokers.
George Rosenberger
Specifically, Symphony’s messaging technology will be integrated into the NYFIX Matching platform. The secure messaging platform is set to enable “compliance, transparency, and streamlined resolution of post-trade discrepancies”.
NYFIX Matching is the first post-trade matching tool which offers integrated messaging capabilities.
Read more: Broadridge launches real-time reconciliation solution for high volume trading
Brad Levy, chief executive of Symphony, said: “As the financial industry advances towards workflow digitisation, it has become increasingly reliant on modern, secure, and interoperable collaboration tools to mitigate risks and increase efficiencies.
“Through this collaboration, we are able to accelerate trade flows and improve real-time transactional accuracy for Broadridge’s clients.”
This latest move of introducing an enhanced messaging functionality came directly off the back of client feedback, said Broadridge.
In particular, clients had expressed a desire for more direct and quicker communication with brokers – something which is now available for NYFIX customers.
“By integrating Symphony’s messaging functionality, we are enabling clients to resolve post-trade inaccuracies faster and with greater ease, ultimately enhancing operational efficiency,” said George Rosenberger, head of NYFIX, Broadridge Trading and Connectivity Solutions.
“This is the latest example of simplifying the client experience with innovative solutions to meet their evolving needs and help them better operate, innovate and grow.”