Broadridge creates new capital markets division 

The new capital markets unit will sit within its Global Technology and Operations (GTO) division and combines the post-trade and trading businesses. 

By Joe Parsons

Broadridge has appointed Vijay Mayadas as president of a newly created capital markets business that will combine its trading and post-trade technology solutions. 

The new capital markets unit will sit within its Global Technology and Operations (GTO) division, and Mayadas will lead its global post-trade software-as-a-service (SaaS) products and LTX, Broadridge’s artificial intelligence-driven corporate bond trading platform. 

“Vijay is a recognised leader in the financial technology industry with a passion for creating leading-edge capital markets solutions and a track record of systematic innovation, delivery and execution,” said Tom Carey, Broadridge’s President of GTO.  

“Vijay will drive Broadridge’s efforts to enhance our extensive enterprise solutions, applying powerful next-generation technologies to empower dealers and institutional investors to better connect, trade and manage the lifecycle of transactions through to their final settlement.” 

Products that sit within capital markets include existing post-trade solutions for fixed income, equities, and exchange traded derivatives, its next-generation post-trade management platform, distributed ledger repo, regulatory reporting, securities financing and collateral management solutions and LTX.

In December last year, Broadridge launched its Data Control intelligent Automation platform leveraging AI and machine learning to be used across industry-wide reconciliation, trade matching and exception management applications.  

Months prior, it also made available its wide range of asset servicing solutions on the Amazon Web Services (AWS) public cloud platform, allowing greater flexibility for banks to replace their legacy processes. 

Mayadas joined Broadridge in 2013 as head of strategy and M&A, where he then became part of the GTO business as head of the fixed income and analytics business unit. He is also the co-founder of LTX, which enables dealers and buy-side firms to better connect and trade through AI and next-gen tools.  

The creation of the new business comes as financial services firms look to accelerate the implementation of their next-generation technology strategies. Research from Broadridge Financial Solutions in July showed that virtually all financial services companies expect the pandemic to affect their operating model and strategy towards next-generation technology. 

Over half of C-Suite executive surveyed said they are planning to increase investment in interactive digital technologies in the next six months, and 54% boosting their efforts in artificial intelligence (AI).