Japanese multi-asset broking giant, Monex, Inc., has tapped Broadridge Financial Solutions, Inc. (NYSE: BR) to help foster and support its bourgeoning Japanese equity and investment trust processing business, per a new strategic partnership, according to a Broadridge statement.
Broadridge Fnancial Solutions is a provider of investor communications and technology solutions for a combination of broker-dealers, banks and mutual funds. The new accord with the group will see the fortification of Monex’s overall retail strategy in Japan with an eye on growth margins in the region as well. This will be accomplished through Broadridge's Japan Securities Depository Center, Inc. (JASDEC) processing solution, helping stimulate client services domestically.
Monex will be the latest financial service provider to lean on Broadridge’s comprehensive solutions suite, which specifically supports and engenders Japanese securities and investment trusts that clear. The partnership is important for Monex as it will be able to settle its trades directly through the JASDEC, which includes the JASDEC's Pre-Settlement Matching System and JASDEC's Book Entry Transfer Systems. Currently, Broadridge’s JASDEC already supports a multitude of Japanese brokers across the retail and institutional space.
According to Oki Matsumoto, Chief Executive Officer (CEO) at Monex, Inc, in a recent statement on the partnership: "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," he added.
"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," reiterated Yoshiyuki Hoshino, COO, Japan, Broadridge, in an accompanying statement.
Broadridge has been active across a variety of countries and jurisdictions already this year, including Europe, the US, and the Asia-Pacific (APAC) ) region. Back in late February, Broadridge made headlines after taking a minority stake in AMA Partners, a Netherlands-based Analytics group.
