Thomson Reuters expands its North American wealth management brokerage processing platform

David Akellian, managing director and global head of Wealth Management at Thomson Reuters
David Akellian, managing director and global head of Wealth Management at Thomson Reuters

Information giant and financial information provider, Thomson Reuters (NYSE: TRI) have expanded its North American wealth management brokerage processing platform, BETA to include automated international post-trade processing for multi-market and multi-currency securities. The move aims to streamline its offering and better serve both retail and institutional clients. BETA allows brokerage institutions to manage the daily tasks of their brokerage business with a forward-looking approach. 

The BETA platform powered by NRI’s I-STAR/GX platform will benefit the customers through an automated settlement and straight-through processing of trades executed across all markets through a high-volume solution with a single-stock record across all asset classes and markets, driving domestic and international corporate actions processing. Its fully integrated solution includes real-time updates of intra-day transaction status changes throughout the life-cycle of the settlement, along with straight-through-processing enabled communication with global and local custodians. Moreover, it serves as a multi-tenant solution that segregates each firm’s data while supporting multiple clients within. 

David Akellian, Global Head of Wealth Management for Thomson Reuters said: 

“The need for a well-diversified portfolio continues to drive wealth managers to seek greater investment opportunities for their clients beyond U.S markets. Our enhanced multi-market capability allows our North American BETA customers to reach new financial markets and grow their existing business by offering a broader array of investment options and opportunities globally. As regulatory demands increase globally, the fully automated single-stock recording process allows firms to be more operationally efficient and transparent in managing custodianship, ultimately mitigating risk, reducing error rates, reducing costs, and freeing up resources to work on other aspects of their business.”

NRINaohiro Sako, Senior Managing Director at NRI said: NRI is excited to be partnering with Thomson Reuters – an important milestone in NRI’s international growth. Thomson Reuters is a highly respected organization, and together with Thomson Reuters, we look forward to catering to an even wider range of clients’ needs, expanding the reach of our services. Our two organizations will be able to fully automate post-trade processing for international trades, creating a faster, cleaner flow between the US and international markets.