Broadridge Financial Solutions, Inc., formerly ADP Brokerage Services Group, is now working in cooperation with Cofunds, a fund administration service provider, to enable UK retail and private client users of its Tarot application to place orders for mutual funds.
Tarot is Broadridge’s order transaction product that delivers STP for order capture, routing and execution of client orders and comprehensive back office processing.
The new collaboration will enable Tarot users to place orders for mutual funds with Cofunds, via retail service provider Winterflood Securities Ltd’s Winner Trader service.
“Historically, placing orders for mutual funds was labour intensive, time consuming and relied upon placing orders by telephone,” says Amanda Fisher, Tarot product manager at Broadridge. “The new functionality within Tarot increases efficiency and optimises STP for its users.”