Broadridge Financial Solutions has announced upgrades to its ClearancePro fixed income processing solution to integrate with CDS Clearing and Depository Services Inc.
The integration allows subscribers to eliminate the use of manual tickets and fully process all CDSX-eligible trades entered into any trade processing solution and process them directly through CDS for clearance and settlement.
“ClearancePro’s connection with CDS enables Broadridge to deliver to clients a greater range of real-time, straight-through-processing functionality,” said Mike Hopkins, president, securities processing solutions fixed income, Broadridge. “Broadridge’s expanded fixed income processing platform can help banks and brokerage firms more effectively manage risk while they focus on expanding their business.”
The streamlined process allows banks to identify exceptions earlier in the day, reducing trade fail risks and boosting operational efficiency. The new capability provides the only end-to-end clearance and settlement solution from trade capture to clearance and settlement offered in Canada for broker-dealers and banks.