The S&P-listed financial services provider said that the acquistion is a response to strong growth in securities-based lending over the past few years, which has become an essential service for asset managers wanting to improve revenues and retain and attract advisors and investors.

“An increasing number of investors are recognizing the value of securities-based lines of credit and the need for financial services firms to automate, scale and optimize their SBL business operations,” the company said.

Rockall currently managers around $3 trillion worth of collateral daily for global banks, including 10 of the top 30 in the US, in order to monitor and manage SBL.

Michael Alexander, North America market solutions head at Broadridge, said that securities-based lending and collateral management are key areas of the industry "in need of innovation", with strategies to drive better credit risk management, regulatory reporting, process simplification, and capital efficiency.

“Broadridge is a leader in the wealth management industry and its size and scale accelerates our ability to meet the increasing demand from advisors and investors,” Rockall CEO Richard Bryce, said.