Broadridge Enhances Trading and Portfolio Management Solution With Snowflake

Broadridge Financial Solutions has partnered with data cloud company Snowflake to enhance its global asset management clients’ decision-making processes through data visualization and analysis.

Snowflake’s integrated data platform allows clients to seamlessly consolidate and analyze trading and portfolio data in the cloud.

Broadridge’s existing data solutions offers access to individualized self-service analytics, customizable digital reports, and interactive dashboards.

The integrated service provides customers with data storage, processing and analytics solutions capable of enhancing Broadridge’s trading and portfolio management solution as users can aggregate data from Broadridge, client, and third-party systems into the cloud-based platform.

Eric Bernstein, President of Broadridge Asset Management Solutions, said: “Data aggregation has continued to be a pain-point for asset managers. There is a strong and ever-growing need to interact with increasingly complex data sets from many sources with speed and efficiency, and our relationship with Snowflake will help our clients overcome these data challenges.

“This is a continuation of Broadridge’s data strategy and strengthens our leadership position as a technology partner that can empower data-driven results for the asset management industry.”

Matt Glickman, VP of Customer Product Strategy, Financial Services, at Snowflake, commented: “We are excited to support Broadridge as they enable asset management clients with a seamless data experience.

“With Broadridge as a part of the Snowflake Data Cloud, asset managers will be able to work more efficiently and can have their data work harder for them, allowing for greater collaboration and better results.”

Broadridge has recently acquired the cloud-based Execution Compliance and Surveillance Service (ECS) assets from Jordan & Jordan.

The deal will further enhance the firm’s surveillance and regulatory reporting as well as compliance consulting capabilities for broker-dealers in the United States.

Earlier this month, the firm named Keir Gumbs as its Chief Legal Officer to help lead Broadridge’s policy efforts and serve as the primary legal advisor for senior management and the Board of Directors.

Broadridge has been very active in acquiring firms and assets as of late. The company has most recently bought AdvisorStream to enhance engagement and marketing solutions as the events of 2020 have transformed the nature of advisor and client collaboration and communications

Its most high-profile deal was the acquisition of Itiviti for $2.5 billion. Itiviti will now be part of Broadridge’s Global Technology and Operations segment. Its senior management team, including its CEO, will continue to remain in the company to help drive the future expansion and growth of the company.

Broadridge has recently enhanced its Private Market Hub with blockchain technology from AWS. The many challenges faced by private market participants, such as disconnected communication and back-office reconciliation, were solved by the newest version of the platform using distributed ledger.