Broadridge Partners with Symphony to Enhance NYFIX Matching Solution

The company said the collaboration marks the first post-trade matching tool to incorporate messaging functionality, “enabling compliance, transparency and streamlined resolution of post-trade discrepancies.”

Broadridge explains that the integration allows asset managers to communicate directly with executing brokers through Symphony’s platform, streamlining post-trade issue resolution. 

“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 Georger Rosenberger, Head of NYFIX at Broadridge Trading and Connectivity Solutions.

The move is said to address a key industry demand for faster, more efficient communication within post-trade workflows. Broadridge said asset managers have expressed a need for more direct broker interactions, prompting it to enhance its existing matching infrastructure.

As the financial industry advances towards workflow digitization, it has become increasingly reliant on modern, secure, and interoperable collaboration tools to mitigate risks and increase efficiencies,” commented Brad Levy, CEO of Symphony. “Through this collaboration, we are able to accelerate trade flows and improve real-time transactional accuracy for Broadridge’s clients.”