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In a consequential move towards launching its full-suite of digital asset securities services, Prometheum Capital LLC, a subsidiary of Prometheum Inc., has enlisted the expertise of Broadridge Financial Solutions, Inc. Broadridge, a global fintech leader listed on the New York Stock Exchange (NYSE: BR), will be tasked with enhancing Prometheum's back-office operations.The partnership is set to...


Published / Modified Apr 29 2024
CSIMarket Team / CSIMarket.com


Prometheum Taps Broadridge to Amplify Post-Trade and Back-Office Procedures amidst Rising Revenues and Increased Market Share

In a consequential move towards launching its full-suite of digital asset securities services,
Prometheum Capital LLC, a subsidiary of Prometheum Inc., has enlisted the expertise of Broadridge Financial Solutions, Inc. Broadridge, a global fintech leader listed on the New York Stock Exchange (NYSE: BR), will be tasked with enhancing Prometheum's back-office operations.

The partnership is set to employ Broadridge?s Shadow Post Trade Processing Solution and Business Process Outsourcing (BPO) solutions. Leveraging these high-grade solutions, Prometheum aims to further solidify its custody, clearing, and settlement services, all critical components for the safe and efficient trade of digital asset securities.

Recent industry data attests to Broadridge?s rising capabilities and robust performance within its competitive landscape. In the fourth quarter of 2023, Broadridge reported an 8.67% year-on-year increase in revenue, defying the contrary trend experienced by most of its competitors who saw contractions in revenues by nearly -12.97% during the same period.

A close overview of Broadridge's profitability compares favorably with its competitors. With a net margin of 11.24%, the company showcased superior profitability ratios. Furthermore, despite a slower growth in net income by 22.02% year-on-year in Q4 2023, Broadridge continues to dwarf its competitors' income growth rate of 1288.29%.
Crucially, Broadridge managed to increase its market share in Q4 2023 relative to Q3 2023. Its market share over the past year stands at 0.8% while the industry grapples with the ever-evolving challenges and opportunities presented by digital transformation.

This partnership represents yet another major stride for Prometheum, bolstered by Broadridge's strong industry performance, and industry-watchers are keen to see the transformative strides in Prometheum's back-office operations and post-trade lifecycle management. The potential of digital asset securities market is fully recognized and set against a backdrop of Broadridge?s notable successes, the markets sound optimistic of the venture's anticipated outcomes.











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