Nomura Research Institute Ltd., a leading provider of consulting services and system solutions, today announced its collaboration with UBS to offer middle- and back-office solutions for Japanese broker-dealers seeking to expand across the Asia Pacific region.
The combined service offering from Citi and UBS, Post-Trade Plus, provides middle- and back-office, clearing, asset servicing and custody capabilities to broker-dealers. An industry first, the comprehensive solution is helping firms establish competitive infrastructure, retain capacity and manage fixed costs, as well as meet increasing demands from regulators and investors. The collaboration of NRI and UBS will bring part of this service to the Japanese broker-dealer community.
The unique framework of the Japanese market creates challenges for local brokerage industry participants. By leveraging NRI's technology as infrastructure for the Japanese financial community and the market-leading Post-Trade Plus solution, broker-dealers are able to expand regionally by outsourcing non-core middle- and back-office processes, tailoring their offerings to the needs of Japanese investors and transforming fixed maintenance costs into variable expenses.
"UBS is committed to helping brokerages in Asia Pacific to improve their post trade services with industry leading practices," said Andrew Murfin, Regional Head of Group Operations, Asia Pacific, at UBS AG.
"UBS is a leading global firm and we are pleased to enter this collaboration to enhance allocation and confirmation, settlement management of Asian equities for Japanese market participants," said Yasuki Okai, financial technology solution division manager at NRI. "Through the use of our services, brokerages are now able to expand market accessibilities, improve post-trade service level with industry leading facilities, while tailoring crucial business processes for Japanese investors and transforming cost structure."
Post-Trade Plus was introduced in November 2012 to address the evolving needs of broker-dealers and other market participants in the Asia Pacific region. Today, this service is offered for cash equities and fixed income securities across most major markets around the globe.