Nomura Research Institute (NRI), Ltd., a leading provider of consulting services and system solutions, today announced that its subsidiary Nomura Research Institute Financial Technologies India Pvt. Ltd. (NRI FT India) has entered into a partnership with Omnesys Technologies Pvt. Ltd. (Omnesys), which was recently acquired by Thomson Reuters and Global Investment Initiative, LLC (GII).
The partnership aims to build and modernize financial and trading infrastructure in the Mongolian market.
The three-way agreement among NRI FT India, Omnesys and GII, creates an integrated front-to-back system for brokerage operations. Omnesys has expertise in order and settlement management and GII is a local financial IT services provider and system integrator. In the collaboration, NRI FT India will provide its NRI Financial Solutions suite, including the trade processing module. The partnership will help clients increase operational efficiency and keep operations more stable.
As the first brokerage client to take advantage of the new offering, ResCap Securities, LLC (ResCap Securities), an innovative corporate finance advisor based in Mongolia, will be able to streamline operations, from the front to back office, and provide its wholesale and retail clients with the highest level of service.
"It was necessary for us to find a solution that could comprehensively support our brokerage business," said Enkhbayar Davaatseren, Head of ResCap Securities. "This unique venture between these three market-leading experts will help us achieve operational efficiencies. We are seeking to improve our business and assist the entire region in moving the local financial marketplace to a new position in the global field."
"As we continue modernizing the Mongolian capital market and improving its standards by adopting international best practices we are delighted to see global capital market solution provider Nomura Research Institute bring its advanced solutions to the market for broker-dealers as well as custodians," confirmed Khangai Altai, CEO of the Mongolian Stock Exchange (MSE).
"We are extremely honored to be partnering with such distinctive organizations to drive the development of the capital markets industry in Mongolia and the surrounding regions," commented Toru Watanabe, President and CEO, NRI FT India. "By working together, we hope to create a wealth of high-skill employment opportunities and to continue building a strong relationship among Mongolia, India and Japan."
Commenting on the partnership, Shrikant Pandit, Managing Director, Omnesys Technologies Pvt. Ltd. said, "We are delighted to work with our partners and the Mongolian stock exchange (MSE) to facilitate the development of financial markets in Mongolia. This collaboration is another example of our commitment to delivering customers in high growth markets with solutions to help them increase efficiencies and streamline operations."
NRI will continue contributing to the development of not only Mongolia, but other emerging regions' capital markets, as well.