Broadridge Introduces New Trade Execution Gateway
Broadridge Financial Solutions has launched ECN Connector, its new trade execution gateway. This solution links impact clients to electronic communication networks (ECNs) for repo and outright trades. Impact is Broadridge’s integrated, online securities transaction processing system for fixed income trading. The impact system provides global financial institutions with trade capture and processing, as well as settlement and clearing functions for domestic and foreign fixed income instruments, including extensive support for mortgage-backed securities. Additionally, impact is a multi-currency and multi-entity system that provides real-time position and balance information, in addition to detailed accounting, financing, and repo functionality. Broadridge is now offering ECN Connector to its impact clients providing a trade execution interface between impact and the top four ECNs. The connector is designed to reduce risk by eliminating manual trade entry for repo and outright trades and to enable impact clients to reap the benefits of more flexible trading, as well as increased operational efficiencies.