Upgrade will enable the integration of ISO 20022 messaging standards
Nomura Research Institute, Ltd.(NRI, TOKYO:4307), a leading provider of consulting services and system solutions, has today announced it is upgrading its SmartBridge solution to connect to Japan’s Securities Depository Center, Inc.(JASDEC) new settlement system. SmartBridge, a solution for asset managers, brokerage firms, trust banks and life insurance companies, enables external straight-through processing (STP) for securities trading by allowing clients to electronically exchange messages related to all trading activity.
The SmartBridge upgrade is in response to the implementation of JASDEC’s new system which requires the integration of ISO 20022 messaging standards. Currently, SmartBridge connects JASDEC’s existing system to asset managers through T-STAR, NRI’s award winning infrastructure service for asset management firms.
The SmartBridge upgrade is achieved by leveraging NRI’s pre-settlement matching system, I-STAR/MX which has already been adjusted to suit JASDEC’s new system. Upon the completion of upgrade, users can also execute real-time processing with the pre-settlement matching system as well as with book-entry transfer systems for investment trusts.
Currently, around 40 sell-side firms including broker dealers and banks use I-STAR/MX, while over 100 buy-side firms including institutional investors and asset managers use SmartBridge. Once the 100 buy-side firms adopt the newly upgraded SmartBridge, approximately 150 financial institutions both sell- and buy-side will be easily connected to JASDEC through SmartBridge.
“We are excited to enhance and enable our system to better assist companies across the buy-and sell-side with their settlement needs,” says Naoya Hiranaka, General Manager of NRI’s Securities Solution Division. “NRI is committed to providing stellar customer service and solutions that will adapt to ever-changing standards and regulations.”
The upgrade is set to be completed fully by the end of March, 2017.
Founded in 1965, NRI is a leading global provider of system solutions and consulting services with annual sales above $3.7 billion. NRI offers clients holistic support of all aspects of operations from back- to front-office, with NRI’s research expertise and innovative solutions as well as understanding of operational challenges faced by financial services firms. The clients include broker-dealers, asset managers, banks and insurance providers. NRI has 35 offices globally including New York, London, Tokyo, Hong Kong and Singapore, and over 10,000 employees.