Broadridge Financial Solutions, Inc. has launched Aspire Trader, a fixed income product distribution system that gives trading desks the ability to offer products to multiple external and internal sales channels through one automated inventory management system.
Broadridge’s Aspire Trader interfaces with Bloomberg, BondDesk, TheMuniCenter, and ValuBond to provide firms with a full front- to back-end solution for automated fixed income trading. Traders control which market centers list their offerings as well as the terms that are displayed. When traders change prices or quantities, enable or disable an offering, their entire distribution channel reflects the new information instantly.
For municipal bond underwriters, Aspire Trader interfaces with the i-Deal municipal book-running system to provide security setup and initial buy-ins for syndicate managers and participants. Once in Aspire Trader, all syndicate trades are processed and reported automatically representing the role of the firm.
Aspire Trader also provides a retail offering system for a firm’s financial advisors to place trades and see updates to offering prices, quantities, and commissions, all in real-time. For firms using a Broadridge back office system today, completed trades are immediately booked into the firm’s system of record.
“The system not only enables firms to reach a larger marketplace, but also streamlines operations, enabling firms to grow their fixed income business with minimal, if any, increase in staffing. Between Aspire Trader’s ability to increase a firm’s fixed income sales channel and its automation of manual processes that have typically hindered a firm’s ability to grow, we believe we’ve delivered a powerful fixed income solution to our clients and the marketplace,” says David Swift, general manager, Securities Processing Solutions, Broadridge.