Broadridge Financial Solutions has acquired Alpha Omega, which offers FIX-based post-trade solutions for the investment management market, for an unknown sum.

The deal encompasses the remaining 68% of Alpha Omega and allows the firm to fully consolidate Alpha Omega’s post-trade matching and consolidation solution into its existing NYFIX connectivity and FIX infrastructure.

Broadridge expects the deal to help it better automate buy-side and sell-side firms’ trade matching processes and further accelerates product roadmap.

This acquisition builds on Broadridge’s recent takeover of fintech firm Itiviti, which provides trading and connectivity technology to the capital markets industry.

Broadridge’s Itiviti business president Ray Tierney said: “We are excited to formalise our four-year strategic partnership with Alpha Omega through this acquisition.

“We are leading technology innovation in post-trade, and this acquisition is a testament to our continued growth and momentum in transforming this space.

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“NYFIX Matching is the first ‘one-stop’ platform to handle all of a fund’s trade matching needs across various product types and asset classes.”

Alpha Omega provides FIX-based technology for asset managers and broker/dealers in areas such as automated allocation, confirmation, and affirmation of trades for equities, fixed income securities, and derivatives.

NYFIX Matching, which brings together Alpha Omega’s FIXAffirm solution with Itiviti’s NYFIX network, is a single, consolidated platform for handling the complete affirmation process.

Buy-side institutions can leverage this platform via their existing NYFIX connections as a fully managed service.

It will enable buy-side to allocate and match their trades while accomplishing same-day affirmation with a global community of over 100 brokers.

According to Broadridge, the extension of the NYFIX service into post-trade will deliver processing efficiencies with significant cost savings over current solutions.

Recent deals

Broadridge has been accelerating its consolidation activities of late.

Last month, the firm bought cloud-based Execution Compliance and Surveillance Service assets from Jordan & Jordan for an undisclosed amount.

It followed the company’s acquisition of AdvisorStream in June.

In April, Broadridge invested in The Tifin Group’s $22.3m in a Series B funding round, alongside JPMorgan Asset Management and Morningstar.