Broadridge Financial Solutions, Inc., today launched ECN Connector, its new trade execution gateway. The application links impact clients to the top Electronic Communication Networks (ECNs) for repo and outright trades.
Impact is Broadridge’s online securities transaction processing system for fixed-income trading. The impact system provides global financial institutions with trade capture and processing, as well as settlement and clearing functions for domestic and foreign fixed-income instruments, including extensive support for mortgage-backed securities.
Additionally, impact is a multi-currency and multi-entity system that provides real-time position and balance information, in addition to claiming to have detailed accounting, financing and repo functionality. Broadridge is now offering ECN Connector to its impact clients providing a trade execution interface between impact and the top four ECNs.
Broadridge says ECN Connector will enable impact clients to reap the benefits of more fungible, flexible trading, as well as increased operational efficiencies.
“Broadridge is committed to investing in the development of technology that meets client needs as well as the demands of an ever-changing marketplace,” says J. Michael Hopkins, general manager at Broadridge, Securities Processing Solutions, Fixed Income. He continues, “We are pleased to provide our impact clients with an even greater capacity to maximize revenue and reduce risk in the fixed income market through ECN Connector.”