BBVA Adopts Broadridge Post-Trade Utility Model

Broadridge Financial Services has signed a multi-year agreement with BBVA Group, to provide a post-trade managed service that will support BBVA’s US-based, fixed-income business.

BBVA is one of more than two dozen clients to adopt Broadridge’s North American Managed Service, which will enable BBVA to further develop its product offering, enhance its risk controls and obtain trade processing and cost savings.

Under the agreement, Broadridge will provide an integrated managed service to support repurchase agreement and fixed income processing, as well as international clearance and settlement and investor communications services.

Broadridge has supported reconciliations processing of exchange-traded derivatives, cash and equities for BBVA since 2013.

“As the fixed income market evolves, new technology and operating models will play an increasingly vital role for our business,” says Ramon Martinez Sobrado, head of CIB global operations for BBVA Group.

“This expanded relationship will help the bank transform and streamline its institutional fixed income operation at a time when new models and technology can help set a path for the industry’s future winners,” adds Michael Alexander, president of Wealth and Capital Markets Solutions at Broadridge.