Bloomberg Tradebook, the agency broker, is transitioning to a self-clearing model with the help of Broadridges business process outsourcing (BPO) solution. Tradebook is seeking to minimize technology and infrastructure costs in the process of migrating away from a fully disclosed clearing model, Broadridge says.
Broadridge’s BPO solution will provide all back-office operations and support for Tradebook on a global scale.
“Broadridge’s BPO model is ideal for Bloomberg Tradebook,” says Joseph Barra, president of International Securities Processing and Global Outsourcing Solutions at Broadridge. “We’ve worked closely with Bloomberg Tradebook during the past several months to ensure our unique BPO capabilities will allow for a seamless transition to self-clearing. Our solution can enable Bloomberg to benefit from a highly scalable and customizable offering to support all aspects of its back-office operation.”
(CG)