Broadridge Financial Solutions has launched a cloud-native data platform designed to help trading firms eliminate data silos, improve data quality, and better manage costs.

According to the New York-based financial technology firm, Tradeverse consolidates real-time, multi-asset class data from multiple vendor applications and platforms – from orders and executions through to settlement – into a unified, harmonized data platform.

It reduces errors, simplifies access with a common data pool across front, middle and back office, and incorporates robust security to protect sensitive information and maintain data integrity.

The clear data structure unlocks insights for all key functions – trading desks, operations, risk, finance, and regulatory – by providing a trusted and transparent data source, Broadridge says.

“A Tradeverse implementation we’ve recently completed with a global bank is proving the power of harmonizing trade data,” says Hugh Daly, head of data and artificial intelligence, capital markets, at Broadridge. “The solution delivers efficiencies for their regulatory reporting and compliance teams, allowing direct access to the data for business users initiating complex searches using natural language.”

In another use case, the securities operations team of a major capital markets firm is using Tradeverse’s harmonized data platform, coupled with Generative AI tool for operations (OpsGPT), to identify and implement productivity gains such as settlement fails analysis that were previously hard to capture in a fragmented ecosystem.

Broadridge says Tradeverse will be the cornerstone of a number of innovative value-add business solutions it will bring to the market in the coming months.