The software is said to processes 70%-90% of the work, such as matching trades, then route only the exceptions to operations clerks. Staff are presented with the information they need to fix a problem such as a trade break, including trade details and a history of the transaction, and also have the option to route the case to someone else, such as the originating trader, where necessary. Monitoring tools show managers how work is moving throughout the department and spot any issues, for instance, many trade breaks coming from one particular trading desk.

The four products have a similar look and feel, so that staff should be able to learn one set of tools and adapt quickly to the rest. They have business rules built into them, based on work done by other Broadridge clients. These business rules can be modified to meet specific client needs; Broadridge executives also say the firm had built in compliance with current regulations and will keep up with any forthcoming new rules. Six firms are already in production on this platform, and one, according to Broadridge president Rich Daly, has increased trade volume 62% without having to hire any new people.

Workflow tools like this, that are easy to use and modify, make sense for overburdened operations departments.

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