Broadridge Financial provides global securities processing and business process outsourcing (BPO) solutions for financial services firms. The crux of the partnership with Schwab will be the launch of a multi-country and multi-currency offering in Q1 2012, where Schwab clients can initially trade in 12 markets and eight currencies. Broadridge will provide the technology needed to support currency trade processing, accounting, and reporting.
Schwab reports that this latest collaboration with Broadridge represents the company’s dedication to its global investing services. Schwab’s global focus began last fall with over-the-counter (OTC) foreign stocks – since then, foreign equity trading by Schwab clients has grown by more than 300% in the first quarter of 2011 over the prior year.
While Schwab already offers country and sector-based research for investors, the company reports it will soon introduce a suite of new guidance capabilities including global macro-economic and currency commentary from Schwab and third-party experts.
“As our clients continue to take a broader world view with their portfolios and their long-term goals, we want to be sure they have a platform that lets them access global markets seamlessly, and houses research, tools and guidance that enable them to become more confident and successful investors,” said Brian McDonald, Senior Vice President of Active Investor and Core Client Experience.