Broadridge acquires FIX-based post-trade provider Alpha Omega

By Pavithra R

Broadridge Financial Solutions, a provider of investor communications, technology-driven solutions, data and analytics to the financial services industry, has announced the acquisition of Alpha Omega, a market-leading FIX-based post-trade solutions provider for investment management industry.

The announcement builds on Broadridge’s recent acquisition of Itiviti. This acquisition, which encompasses the remaining 68% of Alpha Omega, will enable Broadridge to fully consolidate Alpha Omega’s post-trade matching and consolidation solution into its existing NYFIX connectivity and FIX infrastructure to better automate buy-side and sell-side firms’ trade matching processes and further accelerates Broadridge’s product roadmap.

“We are excited to formalize our four-year strategic partnership with Alpha Omega through this acquisition. We are leading technology innovation in post-trade, and this acquisition is a testament to our continued growth and momentum in transforming this space. NYFIX Matching is the first ‘one-stop’ platform to handle all of a fund’s trade matching needs across various product types and asset classes,” said Ray Tierney, President of Itiviti, a Broadridge business. 

Founded by prominent industry veterans, Alpha Omega provides innovative technology to make the post-trade process more efficient and cost-effective for the investment management industry. It brings invaluable expertise in advanced FIX-based technology for asset managers and broker/dealers in all areas covering automated allocation, fixed income securities, confirmation and affirmation of trades for equities, and derivatives. 

NYFIX Matching, which combines Alpha Omega’s FIXAffirm solution with Itiviti’s NYFIX network, provides the market with a single, consolidated platform to handle the entire affirmation process with the same speed and efficiencies of trading now applied to the post-trade piece of the workflow. Buy-side institutions can access NYFIX Matching easily through their existing NYFIX connections as a fully managed service. They can leverage the service to allocate and match their trades, accomplishing same-day affirmation with a global community of more than 100 brokers. The extension of the NYFIX service into post-trade will deliver processing efficiencies with significant cost savings over current solutions.

With over $4.5 bn in revenues, New York-based Broadridge Financial Solutions provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. It provides investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers.