Monex implements new processing solution from Broadridge
Monex, one of Japan’s largest online trading brokers, is deploying a new platform for its domestic equity and investment trust processing business. The supplier is Broadridge Financial Solutions.
Broadridge’s offering is JASDEC (Japan Securities Depository Centre, Inc) Processing Solution.
Oki Matsumoto, CEO of Monex, says the new platform “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, observes that “the demand for processing standardisation is on the rise” amongst Japanese brokers as the market is preparing for the introduction of Japanese Government Bond (JGB) T+1 and Japanese equity T+2.