Japanese Forex broker Monex Inc, part of Monex Group, Inc. (TYO:8698), has selected JASDEC (Japan Securities Depository Center, Inc.) Processing Solution of Broadridge Financial Solutions, Inc. (NYSE:BR) to support its Japanese equity and investment trust processing business.
The collaboration will enable Monex to enhance its retail trading and client services and further develop its growth strategy.
Broadridge offers a comprehensive solutions suite for Japanese securities and investment trusts that clear and settle through JASDEC, including both JASDEC’s Pre-Settlement Matching System and JASDEC’s Book Entry Transfer Systems. The solution provides Japanese brokers top-notch functionality and scalability to enter into other business lines and product segments.
Oki Matsumoto, Chief Executive Officer at Monex, Inc., says,
“We are pleased to partner with Broadridge, who has extensive experience with securities firms and a significant track record in post-trade processing in Japan as well as other Asian markets. Broadridge’s JASDEC Processing Solution will enable us to further improve our retail trading service and to provide us with a real-time processing capability for upcoming market changes focused on shortening settlement cycles.”
Yoshiyuki Hoshino, COO, Japan, Broadridge, adds,
“Demand for processing standardization is on the rise with Japanese brokers consistently investing in technology in preparation for significant market changes, such as Japanese Government Bond (JGB) T+1 and Japanese equity T+2. We are thrilled to welcome Monex to our continually growing Japan client base enabling its business expansion and ensuring a solid footing for their technology reengineering programme through high levels of straight-through processing, continuing investment in technology and commitment to delivering operational efficiency through a world-class standard of service.”
You can view the official announcement on the collaboration by clicking here.