Monex Inc., one of Japan’s largest financial services companies and forex brokers, announced it has teamed up with the US financial technology solutions provider Broadridge Financial Solutions, Inc. (NYSE: BR).
Monex will be using Broadridge’s JASDEC (Japan Securities Depository Center, Inc.) Processing Solution to improve its retail trading and client services and support the expansion of its Japanese equity and investment trust processing business.
“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,” said Oki Matsumoto, Chief Executive Officer at Monex, Inc. “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.”
Broadridge offers a broad range of solutions that serve retail and institutional clients across the entire investment process, including pre-trade, trade, and post-trade processing. Its JASDEC Processing Solution is being used by 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.
“Demand for processing standardization is on the rise with Japanese brokers consistently investing in technology in preparation for significant market changes,” said Yoshiyuki Hoshino, COO, Japan, Broadridge. “We are thrilled to welcome Monex to our continually growing Japan client base enabling its business expansion.”
Monex Inc. is a financial services provider and a forex broker, part of the Monex Group (TYO:8698). The group also includes, Monex Ventures, Trade Science Corp., Monex Hambrecht, and Monex-Saison-Vnaguard Investment Partners, which is a joint venture in which the group holds a majority stake. In addition, the group owns TradeStation Group, which is in charge of the operations in North America and Europe, and Monex International, aka Monex Boom Group, which is in charge of the Asian business.
Earlier this week Monex Inc. reported a plunge in its March 2016 trading volume.