Broadridge Financial Solutions, a provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally, says it has acquired TwoFour Systems, a provider of real-time foreign exchange solutions for banks and broker-dealers. It says the move will address the rising demand for advanced FX and cash management technology among financial institutions. The transaction was completed on December 30, 2014; terms were not disclosed. 

Broadridge says TwoFour's technology provides componentised [sic] front-to-back office integration with straight-through-processing for FX, exchange-traded futures and options, metals, interest rate derivatives and money market instruments.  Its cash management solution provides intra-day real-time aggregation and reporting of balances and cash flows with detailed global position views for single and multi-entity institutions.

"This acquisition advances our strategy to deliver powerful multi-asset class solutions to our clients globally," said Broadridge president and chief executive officer Richard J Daly. "It is one of the latest developments in our ongoing tuck-in acquisition strategy, which continues to bring innovative technologies to our clients and strong internal rates of return to Broadridge."

Broadridge adds that it is integrating the technology with its reconciliations and matching technologies to create a solution that supports an extensive range of cash and liquidity processes. TwoFour Systems will be branded Broadridge FX and Liquidity Solutions, operating within Broadridge's global technology and operations division.

"Financial institutions are looking to capitalise on growth in the foreign exchange market, as emerging markets mature and international currencies become more important," said Tom Carey, president, global technology and operations international, Broadridge. "TwoFour's technology will enhance Broadridge's ability to provide solutions to its clients within a critical asset class, enabling banks, payment companies and broker-dealers to expand their offerings and revenue streams."

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