The Japanese firm will use Broadridge's post-trade support for its equities brokerage services in the U.K.
A major Japanese firm, SBI Securities Co., Ltd. will be using post-trade services from Broadridge Financial Solutions when it launches its equities brokerage services to clients in the U.K., through its subsidiary SBI Shinsei International Ltd., officials say.
This arrangement will be an expansion of Broadridge’s existing relationship with SBI Securities “to process Japanese equities transactions in Hong Kong and Singapore,” according to the announcement. “SBI Shinsei International Ltd. will also be leveraging Broadridge’s Swift Service Bureau to automate Swift messaging workflows with its custodian.”
The expansion “has allowed us to go to market in the U.K. quickly and with confidence while leveraging the benefits of the existing ASP [application service provider] cloud environment,” says Ichiro Takahashi, head of global operations of SBI Securities, in a prepared statement. “Using Broadridge’s global standard for post-trade processing and Swift workflows allows us to provide attractive opportunities to SBI Securities’ clients as we expand around the world.”
“Broadridge is committed to providing a leading suite of innovative and globally scalable solutions to our clients across the trade lifecycle, to help simplify and innovate trading,” says Mike Sleightholme, president of Broadridge International, in a statement.
SBI Securities Co., Ltd. has “ordinary income of over 60.9 billion yen (Fiscal Year March 2023), centered on the online securities business under the umbrella of SBI Holdings, head office located in Roppongi, Minato-ku, Tokyo,” officials say.
SBI is “enhancing its presence not only in the online securities industry, but also in the securities industry as a whole, strongly promoting the expansion of its wholesale business through the strengthening of IPO and PO underwriting, corporate/financial institution business, and overseas institutional business,” officials add.
Broadridge offers a range of systems, services, and software for securities operations.
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