Broadridge completes acquisition of Alpha Omega
02 August 2021 US
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.”
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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