Australia’s fastest-growing online stockbroker, OpenMarkets,
today announced the successful upgrade of its back office
technology to NRI Financial Solutions for Broker Dealers provided
by the Nomura Research Institute (NRI, TOKYO:4307), a leading
global provider of system solutions and consulting services.
The transition sees OpenMarkets become the first Australian
broker to use NRI’s state-of-the-art and robust back-office
solution for processing equity trades giving it a clear advantage
in features, scalability and automation.
NRI, Japan’s leading consulting and technology solutions
provider, is one of the major affiliates of the financial
powerhouse, Nomura Holdings Inc.
The move extends OpenMarkets’ track record in dealing with
leading global players following the company’s recent integration
with Saxo Bank.
OpenMarkets transitioned to NRI Financial Solutions for Broker
Dealers to advance and customize its post-trade multi-asset
capabilities as part of its focus on automating processes and
increasing scalability.
The safe, rapid and smooth transition to the new system involved
moving the entire client base to the new ASX settlement PID 1136
after close of business on Friday, July 7th and in time for start
of business on Monday, July 10th.
NRI’s work with OpenMarkets continues the company’s expansion
into the Australian securities market technology space. In December
2016, NRI acquired ASX-listed technology company, ASG Group to
expand their technology services presence in Australia. Further,
NRI Financial Solutions for Broker Dealers is already enabled for
ISO 20022 which means a more streamlined transition for NRI clients
to ASX’s impending CHESS replacement system.
OpenMarkets CEO, Andrea Marani said, “NRI is an innovative,
technology-driven company able to provide OpenMarkets with greater
efficiencies and integration capabilities. As OpenMarkets was
seeking a more technologically advanced system, one that could
efficiently integrate with our internal systems, and accommodate
our expanded services (such as the recent integration with Saxo
Bank), partnering with NRI was a natural fit.”
“We are a technology-focused broker that builds and manages much
of our own in-house technology via our partnership with Paritech.
This includes our own middleware and order management systems, both
of which are dependent upon seamless integration with the
back-office solution which NRI was well-suited to provide. We are
very excited to announce our partnership with NRI and the
opportunities it represents, both locally and offshore.”
NRI’s deep technical expertise and resources, backed by a strong
balance sheet (it is listed on the Tokyo Stock Exchange with a
market capitalization of AUD 12 billion), give it the scale and
flexibility to swiftly respond to new opportunities.
The highly flexible cloud-based NRI Financial Solutions for
Broker Dealers platform helps financial securities companies adapt
to rapidly changing technological and regulatory landscapes – a
crucial element for OpenMarkets as it expands its business to other
international markets.
Mr. Toru Watanabe, President, NRI Financial Technologies India
said: “NRI is totally dedicated to offering the best solutions and
services in Australia and around the world to support our customers
as the industry relies more and more on fast-moving technology to
enable speed and efficiency.
“As a new technology vendor to the Australian capital market, it
was a major challenge for us to find the right client partner who
could help us establish our back office system in Australia, and
who were attracted enough to our technology to take the chance of
being our first client in Australia for processing equities.
“Working closely with OpenMarkets we have come to understand
their need for a high level of operational efficiency in order to
provide superior service to their rapidly expanding client base. We
are happy that they found our system suitable for their operations
process automation and integration goals. We are committed to meet
their high standards and the challenge of continuous improvement in
the level of automation. We are excited to partner with OpenMarkets
as they expand their business in Australia and
internationally.”
About OpenMarkets
Open Thinking. Open Technology. Open Opportunities.
OpenMarkets Australia Limited (OpenMarkets) is an innovative
digital stockbroker that provides execution-only brokerage services
to retail traders, advisers and intermediaries, including the new
breed of ‘robos’. It is a full market participant of ASX, Chi-X,
NSX and SIM VSE, meaning it trades, clears and settles its own
trades.
Founded in 2012 OpenMarkets has rapidly grown its average
monthly trading turnover to AUD 2-3.5 billion, consistently ranking
in the top 15 brokers in Australia by volume.
In 2016, OpenMarkets received a 5-star CANSTAR rating for
outstanding value in share trading, was awarded 3rd place winner in
the Deloitte Technology Fast 50 in November, and has recently been
nominated in the 2017 Fintech Business Awards in the ‘Platform
Innovator of the Year’ category.
OpenMarkets sets itself apart from other brokers with its
technology capabilities, open APIs and open philosophy towards
third party integration. Its growing network includes banks,
external trading platforms, administration platforms, managed
accounts platforms and financial planning software.
Visit www.openmarkets.com.au for more information. Connect with
us on LinkedIn and Twitter
About Nomura Research Institute (NRI)
Founded in 1965, NRI is a leading global provider of system
solutions and consulting services with annual sales above AUD 4.75
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 in 14 countries globally including New York, London,
Tokyo, Hong Kong and Singapore, and over 11,000 employees.
NRI has been recognized during the 2017 FTF News Technology
Innovation Awards as ‘Best Clearing and Settlement Solution’ and
‘Best New Post-Trade Solution.’ Placed in the Top 10 of the 2016
IDC Financial Insights FinTech Rankings and in the 2016 American
Banker and BAI FinTech Forward Rankings.
In a move to expand into Australia, NRI has become ASX CHESS
accredited and has been working with OpenMarkets over the past ten
months to tailor its back office technology to suit the Australian
market and OpenMarkets' specific needs.
For more information, visit http://fis.nri.co.jp/en or
www.nrifintech.com
What is Back Office software?
‘Back Office’ software provides brokers and trading participants
with the necessary sub-register, securities and settlements
messaging system. At its core, it is used for registering HINs and
securities with CHESS and share registries, messaging other trading
and settlement participants, and for processing settlements. It is
also used to manage an array of other processes required by
brokers.
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version on businesswire.com: http://www.businesswire.com/news/home/20170822005498/en/
Media InquiriesOpenMarketsGenevieve Wood, +613 8199
7702g.wood@openmarkets.com.auorNomura Research Institute America,
Inc.Sayaka Takeda, +1 212-636-0539sayaka.takeda@nria.com