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LAKE SUCCESS, New York -- March 23, 2009 - Broadridge Financial Solutions, Inc. (NYSE: BR) announced that its international service capability has been extended to include Japanese equities, convertible bonds and subscription rights processed by on-shore Japanese broker-dealer operations. This functionality will be supplied as an integrated extension to its multi-currency Gloss securities processing solution.
Full post-execution processing is provided for matching and settlement through JASDEC with relevant Japanese regulatory and legal reports. The solution incorporates the necessary changes required to fully support Japan's new paperless equities environment with the highest levels of STP delivery and shareholder management.
The system is able to generate confirmations and processing reports in both English and Japanese. User screens are also available in both languages.
The functionality is fully integrated with Gloss' global clearance and settlement capability for equity and fixed-income securities with settlement via international CSDs and SWIFT, and is already used by a number of customers for the off-shore settlement of Japanese products. The solution is available on an ASP service bureau or on-site licensed model, and the newly integrated Japanese functionality will be available for implementation beginning July 2009. Broadridge plans to follow this initiative with an equivalent project that addresses the Japanese fixed-income requirements for on-shore operations.
Robin Kneale, Head of Strategy, Securities Processing Solutions, International, Broadridge, said, "We have been operating successfully in the Japanese market for over 10 years. This solution represents a substantial further investment in the Japanese market by Broadridge. It will enable firms operating in Japan, as well as those global firms trading via affiliates in the Japanese market, to benefit from a cost-effective, operationally efficient, single unified solution."
To contact media relations, please email us at mediarelations@broadridge.com.
