US financial brokerage service Broadridge Financial Solutions has moved to improve its multi-currency trade processing and settlement solution, Gloss. The new updated solution allows for post-execution transaction processing for exchange-traded options.
"Derivatives are now fully integrated into the investment process and we see an increased focus for industry participants to extend coverage to their client base," said head of strategy and product management, securities processing solutions at Broadridge, Robin Kneale.
Gloss can now process a vast range of exchange-traded options including equity, currency, index and interest rate futures. The new function provides trade capture, position-keeping and the automation of close-out and end of day settlements. The addition of this new feature follows on from the launch of other treasury and derivative instruments such as contracts for difference, exchange-traded futures and forward rate agreements.
The new functionality will be available in April 2012.