Broadridge and Symphony Partner to Streamline Communication Between Asset Managers and Brokers

Communication and markets technology business Symphony has partnered with Broadridge Financial Solutions with the aim of streamlining communication between asset managers and their executing brokers. According to a story in The Trade news, Symphony’s messaging technology will be integrated into the NYFIX Matching platform. The secure messaging platform is set to enable compliance, transparency, and streamlined resolution of post-trade discrepancies. Brad Levy, chief executive of Symphony, said: “As the financial industry advances towards workflow digitization, it has become increasingly reliant on modern, secure, and interoperable collaboration tools to mitigate risks and increase efficiencies. Through this collaboration, we can accelerate trade flows and improve real-time transactional accuracy for Broadridge’s clients. This latest move of introducing enhanced messaging functionality came directly off the back of client feedback” said Broadridge. Clients had expressed a desire for more direct and quicker communication with brokers – something which is now available for NYFIX customers.