INVESTMENT MANAGEMENT, FINTECH
PRnewswire | March 27, 2023
To provide the financial services industry with seamlessly integrated cost basis processing and tax information reporting, global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR), has teamed with Apex Silver (formerly Silver Management Group of Companies), a trusted provider of enterprise-class SaaS solutions and a subsidiary of Apex Fintech Solutions, Inc. This new comprehensive solution will provide wealth managers with a more tightly coupled offering, thus reducing the overall cost of ownership and improving the overall tax experience for clients. This alliance introduces a common data sourcing and management model making integrations seamless while providing greater flexibility and scale.
"This collaboration provides a complete reporting solution for complex transaction processing addressing both cost basis and tax treatment," commented Thomas Burke, President, Broadridge Tax Services. "Broadridge has long provided tax data and information reporting solutions. What's new is that by working with Apex Silver, we are bringing to market an integrated one-stop reporting solution; that supports compliance with changing tax regulations, new asset classes such as crypto, and which scales rapidly in line with higher transaction volumes."
"Apex Silver offers state-of-the-art cost basis reporting solutions with a focus on delivering industry-leading operational efficiencies and superior client experiences," commented Blake Henry, Chief Executive Officer, Apex Silver. "Our cloud-based, API-driven cost basis offering supports tens of millions of investment accounts and multiple Tier 1 financial institutions, including several firms that are also Broadridge tax information reporting clients. We look forward to working on this exciting initiative together."
This collaboration of leading financial technology providers enables banks, broker-dealers and custodians to contract with a single vendor, Broadridge, for a truly integrated cost basis and tax information reporting solution delivered and supported by Broadridge's world class customer service team.
About Apex Silver
Apex Silver, formerly Silver Management Group of Companies, was acquired and became part of the Apex Fintech Solutions platform in August 2021. With a 30 year history, Apex Silver is a leading SaaS provider of business and technology solutions for the investment services industry. The team applies decades of securities industry and software development experience, along with a passion for solving real-world problems, to deliver cost-effective brokerage operations and wealth management solutions for clients. Apex Silver's SaaS solutions are currently used by some of the world's most respected financial institutions to accurately and securely process tens of millions of investment accounts and trillions in assets.
About Apex Fintech Solutions
Apex Fintech Solutions is a fintech powerhouse enabling seamless access, frictionless investing, and investor education for all. Apex's omni-suite of scalable solutions fuel innovation and evolution for hundreds of today's market leaders, challengers, change makers, and visionaries. The Company's digital ecosystem creates an environment where clients with the biggest ideas are empowered to change the world. Apex works to ensure their partners succeed on the frontlines of the industry via bespoke solutions through its Apex Clearing™, Apex Advisor Solutions™, Apex Silver™, and Apex CODA Markets™ brands.
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with more than $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies.
Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
CORE BANKING, INVESTMENTS
Treasury Prime | March 16, 2023
On March 15, 2023, Treasury Prime announced the launch of OneKey Banking, a groundbreaking technology that allows customers to leverage the industry's largest bank network (15+ financial institutions) using instant cross-bank transfers. This innovative solution is a first-of-its-kind and promises to unlock the full potential of the banking network for Treasury Prime customers.
OneKey Banking is a comprehensive solution with powerful components like network transfers and single-key access to Treasury Prime's growing bank network. However, the true power of OneKey Banking lies in its ability to unlock Treasury Prime's industry-changing technology, providing enterprises with a holistic platform to power their businesses. With OneKey Banking, companies can enjoy unprecedented access to cutting-edge financial tools and a unified system to streamline their operations.
Companies' banking-as-a-service (BaaS) solutions may need to catch up as they mature. Treasury Prime OneKey Banking solves that issue by eliminating the need to switch providers owing to deposit growth or feature access. Flexible by design, OneKey Banking allows firms of any size and growth trajectory to handle deposits effortlessly, move funds, send prompt payments, mitigate risk, scale, and access capabilities via an easy-to-use interface, eliminating many common BaaS difficulties.
OneKey Banking has had an impressive start, enabling deposits of over $350 million in its first month alone across multiple Treasury Prime network banking partners. The company expects this number to grow into billions in the coming months. OneKey Banking's benefits aren't limited to enterprises; banks of all sizes can also use this technology. With OneKey Banking's standard API, banks can improve their innovation channels with their embedded clients and offer a seamless banking experience while taking advantage of Treasury Prime's cutting-edge technology.
About Treasury Prime
Treasury Prime is at the forefront of the future of finance. Its award-winning APIs and embedded banking products allow banks and enterprise partners to innovate, grow, and adapt to a rapidly changing marketplace. With a focus on providing access to banking products and services to all population segments, Treasury Prime offers complex services, including money transfer and risk mitigation, utilizing a chartered bank's infrastructure. The company has been recognized for its innovative approach, winning 'Best Banking-as-a-Service Platform' in Tearsheet Embedded Awards 2021 and 2022 and earning a spot on CB Insights' annual 2021 Fintech 250 list.
FINANCIAL MANAGEMENT, FINTECH
PRnewswire | March 20, 2023
CQG, a leading global provider of high-performance technology solutions for market makers, traders, brokers, commercial hedgers and exchanges, today announced a strategic partnership with global Fintech leader, Broadridge Financial Solutions Inc. (NYSE: BR) that will integrate the two firms' Execution Management System (EMS) and Order Management System (OMS) respectively. The combination of CQG's front-end trading technology with Broadridge's Order Management System and the NYFIX network will be a first of its kind out-of-the-box solution for institutional customers who wish to take advantage of a full front-, middle- and back-office technology suite. These types of partnerships complement Broadridge's open architecture approach of the OMS.
CQG completed a FIX connection into Broadridge to allow for order flow from CQG directly into Broadridge's infrastructure to be managed and routed out to its network of exchanges and liquidity providers. Additional development underway will complete the effort to allow for seamless workflow between the two systems. Viewing and managing orders will be achievable and in-sync in either system. Customers can stage orders, apply algorithmic logic to existing orders, splice and bundle orders, manage allocations, and much more. Traditionally, clients have been tasked with piecing together a solution with a variety of technology providers and have the added effort and cost of making those tools work together.
CQG CEO Ryan Moroney said: "We believe this strategic partnership will bring ease along with significant savings opportunities to our mutual customers. Rather than making a choice between an OMS and an EMS, customers will be able to deploy an enterprise solution that offers both to their internal desks and clients alike."
Together, Moroney said, CQG and Broadridge look forward to enhancing the workflow of their institutional customers and providing best-in-class execution and order management.
CQG provides the industry's highest performing solutions for traders, brokers, commercial hedgers and exchanges for their market-related activities globally, including trading, market data, advanced technical analysis, risk management, and account administration. The firm partners with the vast majority of futures brokerage and clearing firms and provides Direct Market Access (DMA) to more than 45 exchanges through its global network of co-located Hosted Exchange Gateways. CQG technology serves as the front end for a variety of exchanges and is increasingly employed as the over-the-counter matching engine for important new markets. CQG's server-side order management tools for spreading, market aggregation, and smart orders are unsurpassed for speed and ease of use. Its market data feed consolidates 85 sources, including exchanges worldwide for futures, options, fixed income, foreign exchange, and equities, as well as data on debt securities, industry reports, and financial indices. One of the longest-serving technology solutions providers in the industry, CQG has won numerous awards for its trading software, technical analysis and multi-asset trading platform. CQG is headquartered in Denver, with 16 sales and support offices and data centers in key markets globally. For more information, visit www.cqg.com.