April 07, 2015
Accenture Receives Financial Conduct Authority Authorisation for Post-Trade Processing Service
LONDON; April 8, 2015 – Accenture (NYSE: ACN) and Broadridge Financial Solutions, Inc. (NYSE: BR) announced today that the United Kingdom’s Financial Conduct Authority (FCA) has authorised Accenture Post-Trade Processing Limited, a fully owned subsidiary of Accenture, for the provision of post-trade processing services. Accenture Post-Trade Processing offers these services in collaboration with Broadridge.
Full details of the Accenture Post-Trade Processing Limited FCA authorisation can be found at http://www.fsa.gov.uk/register/firmRegulator.do?sid=331714
Accenture Post-Trade Processing helps banks operating in Europe and Asia-Pacific reduce post-trade processing costs, adapt to new regulations and technology changes, and quickly and efficiently launch new products and enter new markets. The solution provides post-trade processing and technology services to support settlement, books and records, asset servicing, operational management and control, real-time data access and administrative accounting.
“As banks continue to focus on solutions to bring new efficiencies to their back-office operations and create a scalable infrastructure for securities processing, our vision for a future model – where banks pool transactions together to reduce IT and processing costs and implement new regulations – continues to gain traction,” said Owen Jelf, Managing Director, Capital Markets at Accenture. “By moving away from in-house or bespoke solutions at each bank, Accenture Post-Trade Processing allows banks to offer the same or improved high-levels of service while providing significant cost reductions across the industry.”
“Accenture Post-Trade Processing distinguishes itself as a market leader through its combination of advanced centralised processing and highly scalable and proven technology,” said Tom Carey, President, Global Technology and Operations International, Broadridge. “By mutualizing costs across a growing number of participants, our solution offers a more efficient way for banks and brokers to support critical yet non-differentiating functions and increased returns on equity.”
The new FCA license ensures that Accenture Post-Trade Processing Limited is supervised by the FCA and can offer post-trade processing services from the UK.
Accenture is a global management consulting, technology services and outsourcing company, with more than 323,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge’s investor communications, securities processing and business process outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge’s infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,700 full-time associates in 14 countries. For more information about Broadridge, please visit www.broadridge.com.
This announcement is directed only at, and contains information about products and services which are only available to, those persons who are Eligible Counterparties (as defined in the rules of the Financial Conduct Authority of the United Kingdom (the “FCA Rules”)). The definition of Eligible Counterparty can be found on the FCA’s website. This announcement is not directed at, or made available to, Professional Clients or Retail Clients in the United Kingdom.
Accenture Post-Trade Processing Limited is authorised and regulated by the Financial Conduct Authority FCA Number 613687 in the UK.
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