Mizuho Securities, a division of the Japanese banking conglomerate comprising Dai-Ichi Kangyo Bank, Fuji Bank and the Industrial Bank of Japan (IBJ), has selected SunGard Trading Systems' Global Trader as its primary fixed income trading platform.
The SunGard system is already used by other Japanese institutions to process trades in domestic products such as government bonds, CDs, CPs, Gentan, Yutan and Mutan repo transactions. Global Trader can be configured to offer display screens using Kanji characters, a feature tailored specially for the Japanese market.
Mizuho says it selected Global Trader because it was looking for an international product tailored for the domestic Japanese market, and will use the platform to handle and process trades for all of its domestic and international fixed income instruments.
Kunimi Tokuoka, Mizuho Securities' head of fixed income group, says: "We wanted a product that would position us well for the current and future deregulation in the Japanese financial system."