Jan 9, 2023

Broadridge Leverages Glue42 According to Monday's press release, Glue42 is a software provider allowing users to configure and use multi-app workflows, incorporate data and arrange the user interface. Broadridge intends to use the developer's solutions to connect multiple interfaces of its own products, including Tbricks and Ullink OMS. "Using Glue42's technology we are providing clients with a better and more seamless user experience, creating one interface for traders to access unique functionality from multiple Broadridge solutions. This new single login provides interoperability, access to the best components from multiple solutions making the trading workflow more efficient, allowing traders to focus on execution," Ray Tierney, President of Broadridge Trading and Connectivity Solutions, said. Meanwhile, Glue42 will expand the number of applications running within its environment through its partnership with Broadridge. The company is headquartered in New York, London and Bulgaria and currently supports 45,000 licenses worldwide. Keep Reading Higher Revenues but Lower Operating Income According to the company's latest financial results for the first quarter of fiscal 2023, ending Sept. 30, 2022, revenues amounted to $806 million, growing by $750 million year over year (YoY). However, Operating income shrank 15% to $88 million YoY, and earnings per share (EPS) came in at $0.84, down 21% from $1.07 in Q1 2023F. "Broadridge reported another strong quarter, highlighting the resilience of our business model and the positive long-term trends driving our growth. Recurring revenues grew 9% constant currency, powered by new sales, continued strength in investor participation, and the strong performance of our BTCS business," Tim Gokey, CEO of Broadridge, commented. ADVERTISEMENT Broadridge projected a 6-9% increase in recurring revenues for the full fiscal year ending June 2023 and EPS growth in the range of 7-11%. However, like many other companies in the financial sector, Broadridge was negatively affected by risk-of sentiment in 2022. Its Wall Street-listed shares lost 27% last year, breaking an eleven-year streak of uninterrupted growth. Broadridge Leverages Glue42 According to Monday's press release, Glue42 is a software provider allowing users to configure and use multi-app workflows, incorporate data and arrange the user interface. Broadridge intends to use the developer's solutions to connect multiple interfaces of its own products, including Tbricks and Ullink OMS. "Using Glue42's technology we are providing clients with a better and more seamless user experience, creating one interface for traders to access unique functionality from multiple Broadridge solutions. This new single login provides interoperability, access to the best components from multiple solutions making the trading workflow more efficient, allowing traders to focus on execution," Ray Tierney, President of Broadridge Trading and Connectivity Solutions, said. Meanwhile, Glue42 will expand the number of applications running within its environment through its partnership with Broadridge. The company is headquartered in New York, London and Bulgaria and currently supports 45,000 licenses worldwide. Keep Reading