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  3. Broadridge completes acquisition of Alpha Omega
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Broadridge completes acquisition of Alpha Omega
02 August 2021 US
Reporter: Jenna Lomax

Image: metamorworks
Broadridge has completed the acquisition of Alpha Omega, a post-trade solutions provider for the investment management industry.

The acquisition, which encompasses the remaining 68 per cent of Alpha Omega, will allow Broadridge to fully consolidate Alpha Omega’s post-trade matching and consolidation solution into its existing NYFIX connectivity and FIX infrastructure.

The acquisition builds on Broadridge’s recent acquisition of Itiviti, the Sweden-based software company and Broadridge’s effort to better automate buy-side and sell-side firms’ trade matching processes.

NYFIX Matching, which combines Alpha Omega’s FIXAffirm solution with Itiviti’s NYFIX network, handles the entire affirmation process.

Buy-side institutions can access NYFIX Matching through their existing NYFIX connections as a fully managed service and can also allocate and match their trades, with same-day affirmation.

The extension of the NYFIX service into post-trade will deliver processing efficiencies with significant cost savings over current solutions, says Broadridge.

Alpha Omega’s FIX-based technology is used by asset managers and broker/dealers for covering automated allocation, confirmation and affirmation of trades for equities, fixed income securities and derivatives.

Ray Tierney, president of Itiviti, said: “We are excited to formalise our four-year strategic partnership with Alpha Omega through this acquisition.”

He adds: “We are leading technology innovation in post-trade, and this acquisition is a testament to our continued growth and momentum in transforming this space. NYFIX Matching is the first ‘one-stop’ platform to handle all of a fund’s trade matching needs across various product types and asset classes.”

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