Japanese online trading broker Monex has selected Broadridge Financial Solution to support its Japanese equity and investment trust processing business.
Broadridge’s Japan Securities Depository Center (JASDEC) processing solution is intended to improve retail trading and client services, in order to support Monex’s strategies for future growth. It also offers scalability to grow in to additional business lines and product areas.
According to Murex, the appointment was partly based on Broadridge’s experience working with securities firms, and its track record in post-trade processing in Japan, as well as in other Asian markets.
Oki Matsumoto, CEO of Monex, said: “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 of Broadridge in Japan, commented: “Demand for processing standardisation is on the rise with Japanese brokers consistently investing in technology in preparation for significant market changes, such as Japanese Government Bond T+1 and Japanese equity T+2.”
He added: “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.”
