Broadridge's BPO selected by Bloomberg Tradebook 08 February 2012New York Reporter: Anna Reitman
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Broadridge's consolidated business process outsourcing (BPO) solution has been selected by Bloomberg Tradebook to support the agency broker's equity and option clearance and settlement business. This is the first agreement between the companies.
The agreement is designed to help Bloomberg Tradebook minimise its fixed-cost investment in technology and operational infrastructure while also creating new revenue-generating opportunities as it transitions from its current fully-disclosed clearing model to self-clearing.
Joseph Barra, president, International Securities Processing and Global Outsourcing Solutions at Broadridge, said, "We've worked closely with Bloomberg Tradebook during the past several months to ensure our unique BPO capabilities will allow for a seamless transition to self-clearing. Our solution can enable Bloomberg to benefit from a highly scalable and customisable offering to support all aspects of its back office operation."
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