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NEW YORK , Dec. 9, 2024 /PRNewswire/ -- To transform the landscape of algorithmic trading, global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR), today announced the launch of an innovative AI-powered algorithm insights service for NYFIX. Driven by real-time liquidity mapping, the service is designed to empower asset managers, hedge funds, and other buy-side firms to achieve unprecedented accuracy, seamless workflow integration, and proven cost-efficiency. "Algo traders will now have a quantitative, data-driven service to power critical trading decisions," said George Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions. "By harnessing the power of AI and historical insights, we're giving our clients the tools they need to navigate complex markets with greater precision and confidence. This innovative solution not only optimizes trading strategies, but also reduces costs, making it an invaluable asset for the buy-side." This is the first and only solution of its kind, using advanced AI to leverage public and private data to understand the liquidity landscape, particularly potential dark fill location. This approach identifies the ideal algorithmic execution for any given order, reducing outliers to improve overall trading costs. Traders benefit from real-time alerts and in-trade analysis, allowing for in-flight adjustments to stay aligned with their objectives, ensuring optimal strategy selection throughout the trading process. The NYFIX service was developed based on decades of proven research from Jeff Alexander and Linda Giordano , whose pioneering work at Babelfish Analytics established the standard for understanding routing dynamics, analyzing venue liquidity, and optimizing algorithm selection. This collaboration brings together unique and proprietary trader-focused insights with the trusted and transformational technological capabilities and extensive distribution capacity of Broadridge, creating a powerful service to enhance the trader's ability to improve performance. Available to NYFIX Order Routing customers in the U.S. equities market, the solution's framework is built to expand rapidly across other asset classes and regions, with future plans to extend access to clients on other Order Routing Networks. About Broadridge Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. Our technology and operations platforms underpin the daily trading of more than $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries. For more information about us, please visit www.broadridge.com . Broadridge Contacts: Investors: Edings Thibault Head of Investor Relations, Broadridge broadridgeir@broadridge.com Media: Gregg Rosenberg Global Head of Corporate Communications Gregg.Rosenberg@broadridge.com View original content to download multimedia: https://www.prnewswire.com/news-releases/broadridge-announces-first-of-its-kind-ai-powered-algorithm-insights-service-302326596.html SOURCE Broadridge Financial Solutions, Inc.Ashley Cain slammed for ‘showing off his wealth’ as he reveals huge new car and houseThe health of the US consumer and the retail sector will be in focus in the coming week on Wall Street, as Black Friday kicks off a holiday shopping season that could shed light on how buyers are grappling with higher prices. The benchmark S&P 500 rose 1.7% in the past week and approached all-time highs as investors digested the end of a solid third-quarter corporate reporting season. Earnings are on pace to have climbed about 9% from a year earlier. But recent earnings from two high-profile retailers yielded sharply different prospects: Walmart on Tuesday raised its annual sales and profit forecast for the third consecutive time, while Target shares tumbled after it forecast holiday-quarter comparable sales and profit below estimates on Wednesday. The holiday shopping season could give further insight on consumer spending, which accounts for more than two-thirds of US economic activity. Even though inflation rates have moderated from 40-year peaks hit two years ago, higher prices are still challenging consumers, said Abby Roach, portfolio analyst at Allspring Global Investments. "It's easy to be excited about inflation coming down year over year, but...consumers are really still under pressure, and I think that's the biggest pain point," Roach said. "Consumers are continuing to feel like their dollars don't go as far as they did." Robust spending into year end could bolster a recent run of data that has shown a stronger-than-expected economy. While investors have welcomed signs of economic health, worries remain over a potential inflationary rebound, crimping expectations for how deeply the Federal Reserve will be able to cut interest rates in coming months. As it stands, Americans have a more upbeat outlook for holiday shopping than in the prior two years, according to a Morgan Stanley survey of about 2,000 consumers published earlier this month, with about 35% saying they expect to spend more this season than a year ago. "Companies could see a little more holiday cheer this year but spending isn't likely to increase across all categories as consumers remain selective," the Morgan Stanley analysts said in the report. The holiday shopping season will also be a test for shares of retailers, which have diverged in 2024. Among the industry's largest players by market value, Walmart is up over 70%, warehouse retailer Costco Wholesale has jumped 46%, while online giant Amazon, which has a diversified business that includes cloud computing, has climbed 30%. Other stocks have struggled. Discounters Dollar General and Dollar Tree are down over 40% and 50%, respectively, in 2024, as analysts point to inflation particularly hitting the companies' lower-income consumer base. Shares of Target, whose weak forecast came as value-conscious consumers shopped for low-priced essentials at rival retailers, are down 12% on the year. "Target is really struggling to find a unique identity in retail right now," said Chuck Carlson, chief executive officer at Horizon Investment Services. The two S&P 500 sectors that include most retailers, the consumer discretionary and consumer staples sectors, are up 23% and 16%, respectively, in 2024, against a 25% rise for the overall index. Another batch of retail earnings are due in the coming week, including reports from Best Buy, Macy's, Nordstrom and Urban Outfitters. Investors will also get a fresh view of inflation, with the Nov 27 release of the monthly Personal Consumption Expenditures Price Index, which is closely followed by the Fed. The inflation gauge is expected to have climbed 2.3% in October on an annual basis, according to Reuters data. "The economy is in a good spot. It's just more about trying to process several years of high inflation," said Michael O’Rourke, chief market strategist at JonesTrading. "From a retailer perspective, a lot of it's about making sure they're protecting their margins while trying to provide that value that's going to attract the consumer."
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LSU outlasts UCF 109-102 in triple-OT affairRomania's pro-European Prime Minister Marcel Ciolacu was leading in the first round of presidential elections Sunday according to exit polls, with the far right not yet assured of a place in the second round, despite a breakthrough in support. With 25 percent of the vote according to two exit polls, Ciolacu appeared to be well ahead of far-right challengers looking to capitalise on this EU member's concerns about inflation and the war in neighbouring Ukraine. The same exit polls gave second place to centre-right former journalist turned small-town mayor Elena Lasconi at 18 percent, with two far-right candidates scoring 15 and 16 percent. In the absence of an outright winner in the first round -- scoring more than 50 percent -- the top two candidates go through to a second-round run-off in the poor NATO member on December 8. Ciolacu, a Social Democrat, is leading a field of 13 contenders in the race to take over from President Klaus Iohannis in the largely ceremonial post. He welcomed the exit polls putting him in the lead, but said all the votes would have to be counted before he knew who he would face in the second round. Lasconi too, was cautious. "The scores are very tight, it's not yet time to celebrate," said the 52-year-old politician. Far-right leader George Simion, 38, who some had forecast might take second place, is for the moment in fourth. Exit polls put him just behind the 62-year-old pro-Russian candidate Calin Georgescu. But Simion said Sunday evening: "We'll see the results of the ballot boxes at 11:00 pm (2100 GMT)." Ciolacu's party has shaped Romania's politics for more than three decades, and as he voted Sunday he promised stability and a "decent" standard of living. But political analyst Cristian Parvulescu told AFP: "The far right is by far the big winner of this election." Simion saw his popularity surge by tapping into voter anger over record inflation while promising more affordable housing. Looking for a new election breakthrough for European far-right parties, Simion warned of possible "fraud" and "foreign interference" when voting. But he added: "I am happy that we are giving Romanians hope and the prospect of a better future." The stakes are high for Romania, which has a 650-kilometre (400-mile) border with Ukraine and has become more important since Russia invaded its neighbour in 2022. More from this section The Black Sea nation now plays a "vital strategic role" for NATO -- as it is a base for more than 5,000 soldiers -- and the transit of Ukrainian grain, the New Strategy Center think tank said. Donald Trump's victory in the US presidential election has further "complicated" Romania's choice, political analyst Cristian Pirvulescu told AFP. Known for his fiery speeches, Simion is a Trump fan who sometimes dons a red cap in appreciation of his idol. Simion opposes sending military aid to Ukraine, wants a "more patriotic Romania" and frequently lashes out against what he calls the "greedy corrupt bubble" running the European Union. Having campaigned hard to win over Romania's large diaspora working abroad, he said the country had only "minions and cowards as leaders". Pirvulescu predicted that if Simion reached the second round his AUR party would get a boost in the December parliamentary election. "Romanian democracy is in danger for the first time since the fall of communism in 1989," he said. "I'm really afraid we'll end up with Simion in the second round," 36-year-old IT worker Oana Diaconu told AFP, expressing concern about the far-right leader's unpredictable nature and attacks on the European Union. The campaign was marked by controversy and personal attacks, with Simion facing accusations of meeting with Russian spies -- a claim he has denied. Ciolacu has been criticised for his use of private jets. Some observers had tipped Lasconi, now mayor of the small town of Campulung and head of a centre-right opposition party, as a surprise package. Sunday's exit polls appeared to suggest they were right. During campaigning, she had said she wanted a future "where no one has to pack their suitcases and leave" the country and for "institutions that work". bur/js-jj/
Matt Gaetz’s decision Thursday to withdraw as Donald Trump’s pick for Attorney General resets the clock in a high-stakes race over who will control the Justice Department during the second Trump administration. And, much like the post of Treasury Secretary , the jockeying has begun. Gaetz took himself out of the process, saying his nomination “was unfairly becoming a distraction.” He faced a potentially rough confirmation process in the Senate over allegations of sexual misconduct , which he has denied. Gaetz had previously resigned from the House, so, at present, he will hold no post in the federal government. (Trump could, however, appoint him to a role that does not require Senate confirmation.) With Gaetz gone, the focus shifts to who Trump might appoint next to the AG role—although Democrats who disapproved of the Gaetz pick still aren’t likely to be thrilled. The Trump transition team did not reply to a request for comment, but here are a few of the possible contenders. Senator Mike Lee: Considered by some at one point as the leading candidate, the Utah Senator aided efforts to overturn the 2020 election. He has also spread conspiracy theories about the January 6 attack on the Capitol. That’s a big turnaround from 2016, when he didn’t even vote for Trump. Lee is currently poised to lead the Senate Energy committee next year. | Jeffrey Clark : Known best as the former assistant attorney general who pressured officials in the Justice Department to overturn Trump’s loss in 2020, Clark is currently under indictment in Georgia for his role in that election. Three months ago, a disciplinary committee in Washington, D.C., said Clark should be disbarred for two years for efforts to interfere with election results. Mark Paoletta : Appointing Paoletta to the attorney general role would draw a dotted line from the Justice Department to the Supreme Court. Paoletta represented Ginni Thomas, wife of Justices Clarence Thomas, in the House investigation of the January 6 attack on the Capitol. He also helped prepare the nominations of Justices Gorsuch and Kavanaugh. He has a history with Trump as well, having served as general counsel for the Office of Management and Budget and has argued that Trump, as president, will have the right to dictate who gets investigated and charged. Andrew Bailey : Bailey currently serves as Attorney General of Missouri, a role he has held since 2022. In that short time, he has overseen dozens of lawsuits against the Biden administration. He recently won reelection in Missouri, but has been criticized for having too national a focus, such as his suit against the state of New York to halt Trump’s sentencing until after the election. (The Supreme Court rejected that request.) Judge Aileen Cannon : Appointed by Trump in 2020, Cannon came to the national spotlight when she dismissed all charges against him in the classified documents case in Florida. Trump has publicly thanked her for that ruling and spoken highly of her. She is currently overseeing the trial of Ryan Routh, who was accused of planning an assassination attempt against Donald Trump at a Florida golf course in September. Mike Davis : A former clerk for Supreme Court Justice Neil Gorsuch, Davis has joked about assuming the AG role on social media, writing he was “too charming to get confirmed.” He played a key role in getting many judicial nominees approved during Trump’s first presidency and has served as something of a bulldog for Trump, advising former Rep. Liz Cheney and special counsel Jack Smith to “lawyer up” over their roles in the January 6 investigation and vowing a “reign of terror” upon Trump’s reelection. Stephen Miller : Miller served as a policy advisor in Trump’s first administration and has been one of the strongest advocates for mass deportations during the campaign. Trump has already named him as deputy chief of staff for policy , but with the AG role open once again, he could change his mind. Miller was a chief architect, along with new border czar Tom Homan, on the family separation policy at the border in the first administration—and as White House spokesman, regularly made unsubstantiated claims of election fraud . After departing the White House, he served as president of America First Legal , an organization of former Trump advisers. The application deadline for Fast Company’s World Changing Ideas Awards is Friday, December 6, at 11:59 p.m. PT. Apply today.Carter Wilkie had a big stat line against Robert Morris last seasonWorld number one Luke Humphries retained his Players Championship Finals title with an 11-7 victory over teenager Luke Littler in Minehead. Littler, who won the Grand Slam of Darts last week, hit checkouts of 170, 164 and 136 as he threatened to overturn an early deficit, but Humphries held his nerve to win the last three legs. “I’m really, really proud of that one to be honest,” Humphries told Sky Sports. “I didn’t feel myself this week playing-wise, I felt like I was a dart behind in a lot of the scenarios but there’s something that Luke does to you. He really drives me, makes me want to be a better player and I enjoy playing him. “He let me in really early in that first session to go 4-1 up, I never looked back and I’m proud that I didn’t take my foot off the gas. These big games are what I live for. “Luke is a special talent and he was right – I said to him I’ve got to get these (titles) early before he wins them all. “I’d love to be up here and hitting 105 averages like Luke is all the time but he’s a different calibre, he’s probably the best player in the world right now but there’s something about me that never gives up. “This is a great way to go into the worlds.” Littler, who lost the world championship final to Humphries last year, said: “It was tough, missed a few doubles and if you don’t take chances early on, it’s a lot to come back. “I hit the 170 and the 164 but just didn’t have enough in the end. “It’s been a good past two weeks. I just can’t wait to go home, chill out, obviously practice at home for the worlds. That’s it now, leading up to the big one.”