Tokyo-based Mizuho Securities has gone live with the Japanese margin trading module from ADP Wilco's Gloss platform.
The module manages all aspects of transaction processing for margin trading, from trade capture, collateral revaluation to settlement, and has been integrated with Mizuho's exisiting implmentation of ADP Wilco's Gloss and enterprise broker solutions.
The application includes features for daily loan calculations and margin call corrections, as well as 'what if' simulations for positions pending closure. Corporate actions support is also provided for Japanese margin trades.
The vendor says the module handles the Japanese convention for settling margin trades at a transactional level, rather than at a position level, as is the case in Europe and the US. Revaluation and charging is also handled at a transaction level.