Broadridge Launches New Fill Matching Platform, Enabling Real-Time Reconciliation for High Volume Trading


Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR), today announced the launch of the NYFIX Fill Matching platform, a new solution complimenting Broadridge’s post-trade NYFIX Matching solution. NYFIX Fill Matching is a FIX based real-time reconciliation product designed for the needs of asset managers with high volume and/or high-touch orders. NYFIX Fill matching is the only platform that matches fills between brokers and asset managers in real-time.

“As the T+1 time compression makes end-of-day processing challenging, Broadridge’s new Fill Matching Solution will rapidly identify trade discrepancies, enabling clients to address and fix these issues before the close of the trading day,” said George Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions. “By reducing this key friction point, Broadridge is continuing to streamline and modernize the front-to-middle office environment for our buy-side clients.”

The Fill Matching solution offers real-time reconciliation, ensuring that brokers and asset managers are constantly in sync, minimizing end-of-day mismatches. “Drop Copies”, or execution reports, are sent from the brokers’ front office platform and are matched against the fills received from the asset managers’ system. The matching criteria is flexible and can be configured by the asset manager to meet their respective requirements. The service informs the asset manager that all fills received from the brokers have been processed and that they can confidently allocate their trades and move into the post-trade matching process.


NYFIX Order Routing Network Wins “Best Low Latency” Prize from WatersTechnology’s Buy-Side Technology Awards 2021


Broadridge Financial Solutions, Inc. (NYSE: BR), today announced that its NYFIX Order Routing Network from Itiviti was named “Best Low Latency Trading Network” for the second consecutive year at the Waters Technology’s Buy-Side Technology (BST) Awards 2021. This win marks the fifth time in the past six years NYFIX from Itiviti has taken home a prestigious BST award.

“We are honored to win another award from the WatersTechnology community, a judging panel comprised of industry experts from across the market,” said Ray Tierney, President of Itiviti, a Broadridge business. “This year, we have redoubled our efforts to support NYFIX to further increase the reliability of the trading infrastructure. With Broadridge’s backing, we are best positioned to serve our clients’ entire trade life cycle and further accelerate our plans that contribute to the continued electronification of the capital markets.”

The highly regarded Buy-Side Technology Awards are designed to acknowledge excellence in trading technology developed specifically for use by buy-side firms, designed to allow them to operate more efficiently, more transparently and more judiciously.

“The NYFIX Order Routing Network from Itiviti has long been an essential and trusted component of the global trading infrastructure,” said Victor Anderson, Global Content Director at WatersTechnology. “Itiviti’s continued investment in innovation in NYFIX and its entire suite of trading solutions keeps them ahead of the game in delivering excellence and reliability to customers across asset classes and around the world.”

Delivered as a managed service, NYFIX is one of the industry’s largest, most stable and flexible order routing networks, connecting more than 1,800 buy-side and sell-side participants and routing 35 million+ messages daily. In 2021, as FIX adoption expanded to additional asset classes, NYFIX further extended its already robust asset-class coverage, adding crypto, ETDs and fixed income. Additionally, Itiviti improved its onboarding process with the addition of an onboarding app through the NYFIX Portal, enabling users to easily connect and enable custom configuration of their NYFIX Matching service for post-trade processing.

Itiviti also dynamically increased the scale of its comprehensive NYFIX infrastructure in 2021 through the completion of its massive cloud transformation project, which provides an efficient and secure option for clients to extend their businesses’ across the globe. The transformation is especially beneficial to network users and NYFIX Matching customers, with the accelerated adoption of FIX for post-trade activity.