SOURCE: Broadridge Financial Solutions, Inc.

September 10, 2007 08:00 ET

Broadridge Provides Clearing Service for Mizuho Securities

LONDON--(Marketwire - September 10, 2007) - Broadridge Financial Solutions, Inc. (NYSE: BR), formerly ADP Brokerage Services Group, has announced that leading Japanese Investment Bank, Mizuho Securities Co. Ltd., is now using its product Gloss for non-resident trade clearing and a related module, the JASDEC Adapter, for investment trusts book entry settlement.

Mizuho Securities is already an established user of Gloss®, which is Broadridge's market leading international securities processing platform. Gloss automates the securities trade processing lifecycle from trade capture through to settlement for virtually any security in any currency. Gloss processing has been extended to handle non-resident trade clearing, most recently for the London entity.

Mizuho is also using Gloss for non-resident trade clearing of Japanese equities and convertible bonds; and is processing matching and settlement for Mizuho Securities entities in Hong Kong, New York and London. In a separate initiative Mizuho Securities is now using the JASDEC Adapter to process investment trusts.

Broadridge has responded to market changes, where investment trusts in Japan have become paperless, with settlement taking place in JASDEC. Broadridge has upgraded the JASDEC Adapter to handle the new requirements of investment trusts. Broadridge believes that providing firms the ability to process investment trusts via the JASDEC Adapter will help them reduce their operational risk and improve their process efficiency.

About Broadridge

Broadridge Financial Solutions, Inc., formerly ADP Brokerage Services Group, with over $2.0 billion in revenues and more than 40 years of experience, is a leading global provider of technology-based outsourcing solutions to the financial services industry. Our systems and services include investor communication, securities processing, and clearing and outsourcing solutions. Broadridge offers a broad, integrated suite of innovative global solutions across the investment lifecycle and provides a wide range of cost-effective and scalable solutions to the financial industry. Our systems help reduce the need for clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities. For more information about Broadridge, please visit www.broadridge.com.

Forward-Looking Statements

This press release and other written or oral statements made from time to time by representatives of Broadridge may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature, such as our fiscal 2008 directional view, and which may be identified by the use of words like "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could be" and other words of similar meaning, are forward-looking statements. These statements are based on management's expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include: the ability of Broadridge to develop brand recognition and its reputation with its clients and employees following its separation from Automatic Data Processing, Inc., (ADP) in March 2007; Broadridge's success in obtaining, retaining and selling additional services to clients; the pricing of Broadridge's products and services; the incurrence of additional costs attributable to Broadridge's operations as a stand-alone public company; Broadridge's ability to continue to obtain data center services from its former parent company ADP, as well as to obtain transitional services from ADP for up to one year from the date of Broadridge's spin-off from ADP; changes in laws affecting the investor communications services provided by Broadridge; changes in laws regulating registered clearing agencies and broker-dealers; Broadridge's debt levels and financing costs, including the impact of its credit ratings on such costs; financial market activity; changes in technology; availability of skilled technical employees; the impact of new acquisitions and divestitures; competitive conditions; and overall market and economic conditions. Broadridge disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Media:
    Mike West
    Broadridge Financial Solutions, Inc.
    London
    T: +44 (0) 20 7551 3224
    E: Email Contact