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April 8, 2015

Accenture’s ‘critical’ support gets FCA approval

Authorisation of Accenture's Post-Trade Processing will help to reduce the costs of post-trade processing.


Accenture and Broadridge Financial Solutions have announced that the Financial Conduct Authority has authorised the provision of post-trade processing services.

The FCA has authorised Accenture’s Post-Trade Processing, a subsidiary of Accenture, to run these services which will be offered in collaboration with Broadridge.

The purpose of the Accenture Post-Trade Processing is to help banks which operate in Europe and Asia-Pacific to reduce the costs of post-trade processing.

It is also designed to adapt to new regulations and technology changes and will aid the launch of new products and entering new markets.

Owen Jelf, Managing Director, Capital Markets at Accenture, said: "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."

"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."

The solution offers processing and technology services which will support settlement, books and records, asset servicing, operation management and control as well as access to real time data and administrative accounting.

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Tom Carey, President, Global Technology and Operations International, Broadridge, said: "Accenture Post-Trade Processing distinguishes itself as a market leader through its combination of advanced centralised processing and highly scalable and proven technology."

"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 license from the FCA ensures that Accenture Post-Trade Processing is supervised by the FCA and can offer these services from the UK.

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