Broadridge selected by FinClear to expand securities finance offering

Australian wealth management provider Finclear targets further growth through Broadridge partnership.

By Chris Lemmon

Broadridge Financial Services has been selected by Australian wealth management provider FinClear to assist in expanding its securities finance business.

Through the tie-up, FinClear will gain access to SFCM via the Broadridge’s FastStart programme, which offers a core ready-to-use securities finance foundation.

Darren Crowther, general manager of Broadridge’s SFCM, said the company is pleased to add FinClear to its APAC client base. “In the ever-changing landscape of securities finance, financial institutions need to react quickly in order to trade new products, access new streams of revenue, and service an expanding customer base.

“At its core, SFCM FastStart promotes simplification and streamlining of securities finance, allowing our clients to benefit from effortless integration and automation, with the ability to grow and scale while meeting increased market and regulatory requirements.”

Founded in 2015, FinClear has grown from a clearing and settlement business into a wholesale business with more than 60 employees across its three Australian offices. The firm now services one in every two Australian Securties Exchange (ASX) and Chi-X transactions.

Commenting on the deal with Broadridge, Finclear chief operating officer, Andrea Marani, said: “Securities finance is an important hedging, liquidity, and revenue enhancement tool for many FinClear clients. Broadridge SFCM allows us to offer additional functionalities and enhanced processes, delivering a greater experience for our customers.”