LAKE SUCCESS, NY, Jan. 29, 2013 /CNW/ - Broadridge Financial Solutions, Inc.
(NYSE:BR) today announced that Questrade selected Broadridge's technology
processing platform and integrated product solutions to support its transition
to a self-clearing operating model in Canada. Broadridge's unique,
customizable and scalable Business Process Outsourcing (BPO) solution will
also provide back-office operations and support.
The agreement minimizes Questrade's fixed-cost investment in technology and
operational infrastructure while also creating new revenue-generating
opportunities. Questrade can now more efficiently and rapidly scale while also
improving alignment between utilization and cost as trade volumes fluctuate.
Questrade selected Broadridge to be the core provider of the self-clearing
strategy because of Broadridge's expertise in operations services and their
ability to integrate multiple processes into a highly automated,
"Questrade is focused on transforming online brokerage services by providing
our clients with the best investment products, trading technology, and client
services," said EdwardKholodenko, Questrade, President and CEO.
"Broadridge's BPO solution provides the reliability and functional integration
needed to serve our growing business, and seamlessly helped Questrade
transition to a self-clearing model. The solution provides us with the
scalability to continue innovating and delivering value for our clients."
"Our objective was to help Questrade provide their clients with a more
efficient and responsive brokerage experience," said Michael Dignam,
President, Broadridge, Canada. "Broadridge's BPO model provides cost savings,
scale, and industry leading best practices to help our own clients grow their
The partnership was established in September and the implementation of the new
solution was completed in December.
Broadridge is a technology services company focused on global capital markets.
Broadridge is the market leader enabling secure and accurate processing of
information for communications and securities transactions among issuers,
investors and financial intermediaries. Broadridge builds the infrastructure
that underpins proxy services for over 90% of public companies and mutual
funds in North America; processes more than $4.5 trillion in fixed income and
equity trades per day; and saves companies billion annually through its
For more information about Broadridge, please visit www.broadridge.com.
Questrade Inc., headquartered in Toronto, provides Canadians with high-speed,
direct access trading in the U.S. and Canadian stock and options markets
through its IQ trading platforms, as well as forex trading. Since 1999, the
company has led the industry in delivering outstanding service, exclusive
products and services, and competitive pricing. This commitment to innovation
has appealed to independent investors, and for the past two years, the company
has ranked as Canada's fastest growing online brokerage. In February, 2012,
Questrade also earned the designation as one of Canada's 50 Best Managed
Kelly M. Howard Broadridge +212-981-1347 email@example.com
Krista Eccleston Edelman +212-704-4438 firstname.lastname@example.org
SOURCE: Broadridge Financial Solutions, Inc.
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CO: Broadridge Financial Solutions, Inc.
ST: New York
NI: FIN ORDER
-0- Jan/29/2013 12:00 GMT
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