Broadridge Financial Solutions plans to acquire Kyndryl's Securities Industry Solutions (SIS) platform, providing settlement, record-keeping, tax, and other services to Canadian financial services companies. Kyndryl intends to collaborate with Broadridge Canada to provide custody services for SIS.

Expanding Business at Broadridge Canada

Karin Kirkwood, President of Broadridge Canada, stated, "The collaboration with Kyndryl and the acquisition of the SIS business further demonstrate Broadridge's longstanding commitment to being a leading technology provider for Canadian financial services companies. The integration of SIS technology business with Kyndryl's custody services and our industry-leading Broadridge Wealth Platform will further accelerate our innovation and meet the increasingly complex needs of Canadian firms."

Reportedly, both Broadridge and Kyndryl emphasize the benefits this collaboration will bring to their Canadian clients. The acquisition of Kyndryl's SIS platform enhances Broadridge's services to the Canadian financial services industry. While the transaction is not expected to have a significant impact on Broadridge's financial performance, the company anticipates long-term benefits.

As the transaction nears closure in the coming months, RBC Capital Markets will serve as Broadridge's exclusive financial advisor. Currently, the transaction is awaiting regulatory approval.

Simplifying Trading Activities

In March of this year, Broadridge launched a derivatives trading technology platform for futures brokers to address the growing trend in derivatives market trading volume and meet the evolving needs of order and execution management.

The newly launched platform, named Broadridge Futures and Options, offers customized solutions for buy-side clients to enhance their trading experience, while enabling sell-side firms to understand trading activities and risk management. According to Ray Tierney, President of Broadridge Trading and Connectivity Solutions, the platform stands out with its modular and flexible deployment capabilities.

Moreover, the platform aims to simplify trading activities by facilitating order and execution management, thereby driving the scale and growth of listed futures and options markets. It integrates workflows and data to address challenges related to regulatory changes, while its automation capabilities enhance the derivatives trading experience through analytics.