The Japanese margin trading module handles all aspects of transaction processing for margin trading, from trade capture, collateral revaluation to settlement. The module includes management features for daily loan calculations and daily margin call corrections; and 'what if' simulations for positions pending closure. Corporate actions support is also provided for Japanese margin trades.
The module also handles the Japanese convention for settling margin trades at a transactional level rather than settling at a position level as practiced in the US and Europe. Revaluation and charging is also handled at a transaction level.
Mizuho Securities Co., Ltd. is an existing user of ADP Wilcoâs Gloss and Enterprise Broker solutions for their domestic and international operations in Japan. The margin trading module is fully integrated with this operational platform.
Paul Grassham, ADP Wilcoâs General Manager in Tokyo, said: "Mizuho Securities Co., Ltd. is a leading financial institution in the Japanese market and they will benefit from high levels of STP through our margin trading module".