Ita BBA is deploying Broadridges Business Process Outsourcing (BPO) solution for the new securities lending and repo business out of its New York brokerage arm, Ita BBA USA Securities.
Ita BBA will use the BPO solution to create a single platform to manage its U.S.-based Prime Services operations, technology and hosting needs. The solution also will facilitate Itas expansion into the USD-based securities financing and repo businesses.
It is an exciting time for Ita as we launch our USD-based securities lending and repo business, says Gregory Wagner, managing director and Global Head of Prime Services at Ita BBA. We are delighted to collaborate with Broadridge given their proven track record and industry-leading reputation, bundled technology and BPO offering, and domain expertise across securities lending and repo markets. Ita is confident Broadridge is the right strategic partner that will enable us to most effectively grow the business-accelerating time to market and benefiting from their deep securities operations knowledge.
Joseph Barra, president of International Securities Processing and Global Outsourcing Solutions at Broadridge, says the firms BPO model will allow Ita to minimize its fixed-cost investment in technology and operational infrastructure while also creating new revenue-generating opportunities for the firm as it ramps up broker-dealer capabilities in the U.S. marketplace.
Ita BBA is a highly-respected institution and top name in the Latin American as well as global banking communities, and Broadridge looks forward to continuing to build upon this new relationship, Barra says.
(CG)