Broadridge Financial Solutions (NYSE: BR) announced its readiness to support new over the counter (OTC) derivatives reporting requirements in Australia and Singapore, while also preparing for upcoming regulatory shifts in Canada and Hong Kong. The fintech giant is enhancing its reporting solutions to ensure compliance with evolving regulatory standards across multiple jurisdictions.
Expanding Global OTC Derivatives Reporting Capabilities
Broadridge’s latest solution now meets the reporting requirements set by the Monetary Authority of Singapore (MAS) and the Australian Securities and Investments Commission (ASIC), which became effective on Monday. Additionally, the company is gearing up for similar regulatory updates in Canada and Hong Kong, scheduled for July and September 2025, respectively.
Ben Cooling, General Manager of Regulatory Trade and Transaction Reporting at Broadridge, emphasized the company’s proactive approach: “We’re staying ahead of the regulatory curve to ensure our clients can meet their compliance obligations. These updates are part of a broader global initiative to enhance consistency and transparency in derivatives reporting.”
Broadridge’s Continued Global Enhancements
This latest move follows Broadridge’s successful upgrade of the European Money Market Statistical Reporting (MMSR) system in July 2024. Looking ahead, the company is preparing to launch a U.S. equivalent of the Securities Financing Transactions Regulation (SFTR) for securities lending, which is expected to roll out in January 2026.
Broadridge is also working on enhancements to accommodate significant updates to the EU and UK Markets in Financial Instruments Directive (MiFID) regulations, which will be implemented between 2025 and 2027. Additionally, final updates to the U.S. Commodity Futures Trading Commission (CFTC) Dodd-Frank reporting requirements are in development.
Broadridge’s solution simplifies complex trading regulations, ensuring that firms comply with various local requirements. It incorporates Global Unique Transaction Identifiers (UTIs), Unique Product Identifiers (UPIs), and other critical data elements, aligning with global regulatory standards.
Recent Innovations at Broadridge
Broadridge has recently introduced several groundbreaking services and partnerships in the fintech industry. Notably, the company launched an instant payment service that facilitates real-time money transfers with high resiliency, capable of processing payments within 10 seconds through the Swift Alliance Gateway Instant.
Broadridge also unveiled a suite of operational resilience services aimed at helping financial institutions comply with the European Union’s Digital Operational Resilience Act (DORA), set to take effect in January 2025. Additionally, the company’s Securities Finance and Collateral Management (SFCM) platform has been adopted by Americas Executions (AmerX) to streamline its securities lending operations.
With its daily processing of over $10 trillion in securities trades and its generation of more than 7 billion communications annually, Broadridge continues to be a leader in providing comprehensive fintech solutions for the global financial services industry.
