Financial expertise firm Broadridge Financial Solutions introduced on Thursday that it has acquired a set of regulatory reporting applied sciences from PivotData, an information warehouse firm and supplier of regulatory expertise options to the funding administration business, and it’s companion, Sol Hedge.
In its assertion, Broadridge stated that it might be utilizing the acquired applied sciences to bolster its enterprise amongst non-public fund asset managers. As one may think, the expertise can be used to satisfy regulatory necessities which these fund managers should adhere to.
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“Our software,” stated Kelli Brown, Head of Global Product Development at Sol Hedge, “was custom-built to excel at regulatory reporting and we look ahead to scaling with the assistance of Broadridge’s deep product experience and worldwide attain.”
Sadly for us nosy hacks, Broadridge didn’t disclose the phrases of the deal. So strive to not keep awake at evening, tossing and turning, questioning simply how astronomical a sum the corporate paid for its latest acquisition.
PivotData’s options can be added to Broadridge’s present reporting options. Currently, the expertise firm provides a spread of various reporting capabilities, together with the flexibility to calculate what data must be submitted and really sending it to the right regulatory authority.
“This acquisition is a pure addition to our quickly increasing expertise and companies platform for asset managers,” stated Eric Bernstein, Broadridge’s Head of Asset Management Solutions. “Regulatory reporting is a infamous wrestle throughout the asset administration business, and PivotData and Sol Hedge’s business experience will assist our present and potential Broadridge shoppers meet their present necessities and be prepared for what’s subsequent.”