BayernLB Utilizes Broadridge’s Solution for Regulatory Trade and Transaction Reporting
Fintech major Broadridge Financial Solutions, Inc. (NYSE: BR) today announced that Bayerische Landesbank (BayernLB) has selected the company to handle its regulatory trade and transaction reporting.
According to the official press release, BayernLB will utilize Broadridge’s multi-asset class, multi-jurisdictional regulatory trade and transaction reporting solution to provide a single strategic solution to regulatory trade reporting commitments – including for SFTR, EMIR, MiFIR and MMSR.
In leveraging Broadridge’s solution, BayernLB will also benefit from a consolidated, integrated data model that can be extended and adapted with ease to accommodate additional new reporting jurisdictions and changes to existing regimes. Additionally, it will reduce operational costs, risk and complexity, and enable the Landesbank, which is owned by the Free State of Bavaria and the regional Savings Banks, to concentrate efforts on core activities.
Hugh Daly, Head of Capital Markets Data & Regulatory Solutions at Broadridge, commented, “We are excited to help BayernLB with all of the industry’s new and ever-evolving reporting requirements and to see this solution live in the German market. We are extremely proud that Broadridge continues to be the provider of choice for globally recognised financial institutions looking to streamline and de-risk their regulatory reporting process.”
As Fazzaco reported earlier, Broadridge has acquired AdvisorStream, an award-winning digital marketing automation platform. This acquisition is expected to expand Broadridge’s front-to-back office wealth capabilities, positioning Broadridge to serve growth-oriented advisors and firms looking to attract and engage prospects and clients across key digital channels.
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