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New Broker Dealer Formation

November 8, 2021

Learn how our clients have implemented Matrix Applications' software and services to generate sustainable growth and success:

New Broker Dealer Formation


A Client is challenged with setting up a new Broker Dealer, joining the Fixed Income Clearing Corp's Government Securities Division, deploying a trade processing system with "books and records" and building a back office to support its institutional trading business.


The Client leveraged Matrix's experience in helping other clients form a new Broker Dealer and utilized several of Matrix's partners. Matrix provided recommendations for legal assistance, several outsourced compliance options, an outsourced FinOp, and a skilled practitioner to craft adequate Policies and Procedures for credit, operations and risk. The Client was also given two options for a clearing bank that fit their budget.


The firm was able to form a new Broker Dealer with full functionality within the time frame and scope using QTIX as their fixed income collateral management system and Matrix Managed Services for their back office operations.

About QTIX

QTIX is a seasoned securities finance solution for broker / dealers, asset managers and banks in the fixed income capital markets. Functions range from front office trade entry to settlement & clearance down to reporting and accounting.

While other companies may offer disjointed, disparate components that constitute their fixed-income product, QTIX is different, as it is a total, cohesive front-to-back solution for all your fixed income trade lifecycle needs. QTIX is engineered to deliver exceptional performance for organizations both large and small.

About Matrix Applications

Matrix Applications is a New York-based fintech service bureau that offers a suite of collateral management, margining and clearing systems for institutional fixed income trading. We are a team of capital markets and systems professionals delivering financial technology solutions to institutional firms since 2000. We work hands-on with our clients to identify an optimal mix of services to best fit their needs, from systems to back office operations assistance. With in-house and off-shore developers, we provide our clients with the right solution at the right price. Every day. Without fail.

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