Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that its market-leading international securities processing solution, Gloss, has been further enhanced through new functionality to better enable middle- and back-office users to manage their global cash and stock inventories.
The new functionality enables users to examine their current and projected depot and nostro positions and exposures, and easily identify, adjust and prioritise funding requirements and opportunities. Open trades can be selected and excluded from funding positions individually or in groups (eg. all failing stock and cash receipts). Movements can be viewed as gross receipts/deliveries, or as net movements. Positions are valued using latest prices, and this information can be used when establishing funding priorities.
Gloss has always provided a powerful, multi-entity, multi-currency, real-time stock and cash books and records capability as part of the core offering. The flexibility of this functionality is currently being exercised to support the requirements of a major prime brokerage operation, as well as the more established requirements of agency and principal brokerage operations.
Robin Kneale, Head of Strategy, Securities Processing Solutions, International, Broadridge, said: "We are very pleased to be able to offer this new functionality to our clients. We continue to invest in Gloss in line with market demands, and are firmly committed to providing the highest standards of client service."
Gloss is a multi-currency transaction processing and record-keeping solution for international equities and fixed income securities. It automates the trade processing lifecycle from trade capture through to confirmation and settlement, to provide the highest levels of straight-through-processing and efficient and timely exception management. It is able to handle transaction globally, and it can also be provided as a local solution for many markets including the UK and Euroclear markets, Japan, Hong Kong and other markets. Gloss can be delivered internationally as an ASP service bureau solution, or as an on-site licensed solution.