Matsui Securities Co., Ltd., one of Japan’s online securities brokers, has selected global Fintech Broadridge Financial Solutions, Inc.’s (NYSE:BR) cloud based SaaS post-trade processing solution to drive operational efficiency in its stock lending business.
System integrator Intelligent Wave will “develop the front office component and system integration as well as provide project management and overall consultation to Matsui Securities.”
Shinichi Uzawa, Managing Director, Corporate Division at Matsui Securities said:
“Hitherto, we have operated an internally developed system for stock lending transactions, but as our business has grown it has become bloated, making system maintenance a significant burden. By adopting Broadridge’s post-trade processing solution with its proven global track record, we expect to reduce our maintenance burden and facilitate a far more stable management with much greater operational efficiency.”
Ian Strudwick, Managing Director, Head of Asia Pacific at Broadridge said:
“We are delighted to work with Matsui Securities and Intelligent Wave to meet their clients’ current and future stock lending needs in Japan. In today’s competitive online securities brokerage market, margin compression means that our clients are looking at new revenue growth opportunities and operating efficiencies. Our modular platform allows them to achieve these goals, quickly and with ease, and provides the flexibility for future expansion of their services locally and globally at scale.”
Broadridge delivers global simplification, transformation and innovation across the trade lifecycle through scalable solutions.
Broadridge’s cloud based post-trade SaaS solution “will allow Matsui Securities to process and settle all stock lending and borrowing transactions, manage the corresponding positions, compute required collateral, as well as automatically calculate fees and rebates and manufactured dividends.”
As noted in the update, Matsui Securities Co., Ltd. is “an online-focused securities firm that provides financial products and services to retail investors via the internet.”
Their range of products and services “includes Japanese and U.S. stocks, forex, investment trusts, futures options, NISA, and iDeCo.”
As mentioned in the announcement, Intelligent Wave Inc. is an IT services firm “that supports business reliability in sectors including settlement, finance and securities.”
They have acquired a high share in “the domestic Japanese market through developing, building, and maintaining systems for the financial industry that process large volumes of data accurately and in real time, including building online network gateway systems for settlement systems and stock price information distribution gateway systems for the securities market.”
They are also significantly expanding their information security business “by introducing and disseminating their proprietary internal information security products, as well as advanced solutions from overseas, in the domestic market.”