China Renaissance Expands Partnership with Broadridge

​China Renaissance, a leading Chinese financial institution, today announced that it has expanded its post-trade processing relationship with fintech major Broadridge Financial Solutions, Inc. (NYSE: BR) via Stock Connect.

The expansion of the partnership aims to facilitate the clearing and settlement of both Shenzhen- and Shanghai-listed equities. China Renaissance has offered clients in equity trading via Stock Connect, with Broadridge’s post-trade solution implemented back to March 2020.

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According to the official press release, both firms are jointly planning for upcoming market and regulatory changes, such as Hong Kong Exchange’s (HKEX) Synapse programme and FINI (Fast Interface for New Issuance) proposal​, which aims to replace the existing “T+5” process with “T+1” for newly listed shares on HKEX. 

Andy Maynard, Managing Director, Global Head of Equities, China Renaissance, commented, “We have been impressed by the resilience of Broadridge’s systems and, as a technology partner, Broadridge understands and supports multiple markets, including north and southbound trading across asset classes. We value our long-term relationship with Broadridge. Their experience with next-generation technologies for clearing and settlement will be beneficial for us to leverage as HKEX’s Stock Connect evolves, and the relationship allows us to be ahead of the curve for our clients.”

Danny Green, General Manager, International Post-Trade at Broadridge, added, “China Renaissance has been able to bring more efficiency to its operations and enable its growth ambitions by leveraging Broadridge’s local expertise and global scale, as seen in the successful implementation of our post-trade processing solution for Stock Connect markets. Broadridge’s world-class technologies and experience in Asia have led us to become the technology provider of choice for many firms in the region. Our established platform allows clients to scale services with ease as they grow and continue to innovate through the adoption of The ABCDs of Innovation® - AI, blockchain, the Cloud and digital, that continue to evolve into market practices.”