Broadridge Financial Solutions (NYSE:BR) and Blue Ocean Technologies (BOT) — the firm that’s allowing people to manage their equity market risk 24 hours a day, have partnered up.
Why It Matters: BOT spoke with Benzinga in late May on technology as well as the benefits 24-hour trading provides.
Mainly, through solutions like BOT, market participants can better discover prices and manage risk. As the firm’s CEO Brian Hyndman puts it, “if there’s a geopolitical event on a Sunday night, people don’t want to wait till Monday morning to reposition themselves.”
Immediate Impact: FIX (the Financial Information eXchange) is used in the dissemination of price and trade information.
Now, after this partnership, BOT will benefit from Broadridge’s VeriFIX solution, allowing it to simulate FIX order flow in non-productive environments. In addition to this, Broadridge’s FIX Conductor will allow BOT to onboard new clients not on NYFIX, as well as manage flow via Broadridge’s FIX connectivity layer.
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“In today’s environment of extreme volatility, access and transparency are mission critical to fostering fair markets,” said Ray Tierney, President of Broadridge Trading and Connectivity Solutions.
“Through Blue Ocean’s access to overnight markets and Broadridge’s expansive client connectivity and proven managed services, we will do just that – enabling increased access to markets for global traders,” Tierney added.
