Broadridge Financial Solutions and Beacon Capital Strategies today announced a multi-year strategic alliance.
Through this alliance, the firms are positioned to better serve their clients who actively trade less-liquid fixed-income securities such as agency MBS, ABS, and CMOs.
Broadridge currently handles on average over $3 trillion in notional value of U.S. fixed-income securities transactions daily. Beacon established the first trading platform tailored to the specific dynamics of the less liquid fixed-income market, which is open to all participants on
an anonymous and equal basis. According to a release, this strategic alliance will help the
firms' clients locate difficult-to-find securities in the less-liquid fixed-income segment, enhancing liquidity and efficiency to the overall market.
By using Broadridge's /impact^SM / and MBS Expert^(r) products as well as Beacon's cutting-edge Trade Discovery^TM platform, clients will be able to search through the largest universe
of less-liquid fixed-income securities, find the other side of the trade for instruments that meet specific investment criteria, and transact on liquidity that otherwise would not be publicly advertised in current trading channels.
"Broadridge has a long-standing commitment to its clients and helping them effectively navigate key business issues, such as the current market environment and liquidity crunch," said J.
Michael Hopkins, general manager and senior vice president in securities processing
solutions and U.S. fixed-income at Broadridge. "Through this alliance with Beacon, our clients and other trading participants will now be able to tap into a new source of liquidity, streamline the trading process, and ultimately increase trading P&L. This alliance underscores Broadridge's commitment to enable its clients to achieve higher levels of business growth as well as create solutions that address the industry's biggest challenges. We are extremely excited to enter into
this relationship with an industry innovator such as Beacon."
"This alliance enables us to provide a powerful combination of inventory management and trading heretofore unavailable in the industry," said Robert Barsky, chief operating officer at Beacon. "We are very excited about rolling out this capability to the marketplace."
Beacon Capital operates a marketplace dedicated to offering liquidity and electronic trading in the less-liquid fixed-income market.
