Broadridge, a provider of technology solutions to brokers, has expanded its product offering into foreign exchange by purchasing TwoFour.
TwoFour Systems is a provider of real-time foreign exchange solutions for banks and broker-dealers, targeting their need for advanced FX and cash management technology among financial institutions.
The transaction was completed December 30, 2014 and terms were not disclosed.
TwoFour’s technology provides componentized front-to-back office integration with straight-through-processing for FX, exchange-traded futures and options, metals, interest rate derivatives and money market instruments. Its cash management solution provides intra-day real-time aggregation and reporting of balances and cash flows with detailed global position-views for single and multi-entity institutions.
“This acquisition advances our strategy to deliver powerful multi-asset class solutions to our clients globally,” said Broadridge President and Chief Executive Officer Richard Daly. “It is one of the latest developments in our ongoing tuck-in acquisition strategy, which continues to bring innovative technologies to our clients and strong internal rates of return to Broadridge.”
Broadridge is integrating the technology with its reconciliations and matching technologies to create a solution that supports an extensive range of cash and liquidity processes. TwoFour Systems will be branded Broadridge FX and Liquidity Solutions, operating within Broadridge’s Global Technology and Operations division.
Broadridge Financial provides investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally.
