Broadridge Financial Solutions has introduced a set of applications designed to help self-clearing broker-dealers streamline their workflow and reduce manual processing. The first four applications in the Ascendis suite, which will eventually encompass 16 modules and is being offered by New York-based Broadridge's Securities Processing Solutions unit, automate purchase and sales procedures, margin management, dividend distribution and reorganizations, and corporate actions procedures. The Ascendis business process management suite was announced in May 2007.
The applications, which use Microsoft ASP.Net and BizTalk technology, were unveiled last week at Microsoft Corp.'s New York office. According to Broadridge, the modules, sold on either an application service provider basis or as licensed software, automate up to 90 percent of the processing work and route exceptions to the appropriate operations staff. Clients establish business and workflow rules that allow the applications to attempt to fix exceptions before forwarding them on for manual correction.
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