Broadridge Financial Solutions, Inc. (NYSE:BR) has announced that AxiCorp, a provider of margin foreign exchange trading services for the retail and institutional markets, has selected Broadridge’s reconciliation solution for the automation of reconciliations and investigations for its global operations.
The Broadridge solution supports front- to back-office reconciliations across the trade lifecycle and will connect AxiCorp’s trading platforms to Broadridge’s FX & Liquidity (FXL) post-trade processing platform.
The reconciliation solution is part of Broadridge’s portfolio of processing solutions that enables firms to manage their operational complexity and help to minimize their overall risk.
This integrated solution endeavors to help Financial Services organisations, like AxiCorp, through automated detection of trade exceptions. This solution should also increase the efficiency and accuracy of identifying and resolving inaccurate or missing transaction records for FX and FX Swap transactions.
Firms like AxiCorp are continually optimizing and improving their operational efficiencies, risk management processes and operational infrastructure requirements to support their business expansion strategies,” said David Becker, head of Asia Pacific at Broadridge. “The combined power of Broadridge’s world-class reconciliations platform and FXL’s processing capabilities continues to give AxiCorp a platform to grow its global business whilst enhancing its operational effectiveness.
Simon Turner, CIO & Head of Operations at AxiCorp, added:
At AxiCorp, we support efforts to reduce risks. We are aware that effective risk management is an essential element of the integrity of our business. We continue to develop effective procedures and systems to manage risk, in each region of AxiCorp’s operations, i.e. the UK, Europe, Middle East and Asia-Pacific. The selection of Broadridge’s reconciliation platform helps us to achieve this increase in automated operational efficiency and effectiveness in our daily operations.
At AxiCorp, as we continue to grow, we look to explore innovative and valuable ideas, technologies and systems aimed at accelerating our growth. We believe that having a platform that’s flexible, scalable and user friendly allows us to become more self-sufficient in the management of our reconciliation processing. We are excited about several key new business requirements aimed at accelerating growth that have recently been implemented, so we welcome the support from Broadridge in helping us achieve these important strategic measures.