Broadridge acquires post-trade solutions provider Alpha Omega

Broadridge to fully consolidate Alpha Omega’s post-trade matching solution into its existing NYFIX connectivity and FIX infrastructure. 

By Wesley Bray

Broadridge Financial Solutions will acquire FIX-based post-trade solutions provider Alpha Omega, its latest expansive move as it looks to provide a greater depth of post-trade messaging technology solutions.

The acquisition will enable Broadridge to fully consolidate Alpha Omega’s post-trade matching and consolidation solution into its existing NYFIX connectivity and FIX infrastructure.

Broadridge stated the move will enable greater automation of buy-and sell-side trade matching processes and will further accelerate Broadridge’s product roadmap.

“We are excited to formalise our four-year strategic partnership with Alpha Omega through this acquisition. We are leading technology innovation in post-trade, and this acquisition is a testament to our continued growth and momentum in transforming this space. NYFIX Matching is the first ‘one-stop’ platform to handle all of a fund’s trade matching needs across various product types and asset classes,” said Ray Tierney, president of Itiviti, which Broadridge acquired earlier this year.

Alpha Omega brings expertise in FIX messaging-based technology for asset managers and broker-dealers in all areas covering automated allocation, confirmation and affirmation of trades for equities, fixed income securities, and derivatives. 

NYFIX Matching, a combination of Alpha Omega’s FIXAffirm solution and Itiviti’s NYFIX network, provides the market with a single platform to handle the entire affirmation process with the same speed and efficiencies of trading now applied to the post-trade piece of the workflow.

NYFIX Matching can easily be accessed by buy-side institutions through their existing NYFIX connections as a fully managed service.

Buy-side firms can allocate and match their trades through this service, where they can achieve same-day affirmation with a global community of over 100 brokers.

Broadridge added this extension of the NYFIX service into the post-trade will deliver processing efficiencies with significant cost savings over current solutions.