Broadridge Launches Real-Time Reconciliation Solution for High Volume Trading

Broadridge Financial Solutions has launched a new solution designed to meet the needs of asset managers with high volume and/or high-touch orders. Named NYFIX Fill Matching, the FIX based real-time reconciliation product compliments Broadridge’s existing post-trade NYFIX Matching solution. According to a story in The Trade news, NYFIX Fill matching is the only platform that matches fills between brokers and asset managers in real-time. The Fill Matching solution provides real-time reconciliation which keeps brokers and asset managers in sync, alongside minimizing end-of-day mismatches. The brokers’ front-office platform sends execution reports which are then matched against the fills received from the asset managers’ system. To meet respective requirements, the matching criteria is flexible and is configurable to asset managers. Asset managers are then informed by the service once all fills received from the brokers have been processed, allowing them to allocate their trades and move into the post-trade matching process. This development follows the launch of BRx Match, a cloud-based reconciliation and matching solution which aims to tackle reconciliation and data integrity challenges.