Broadridge Financial Solutions has announced that Mizuho Securities, a Japanese investment bank, is now using its product Gloss for non-resident trade clearing and a related module, the Jasdec Adapter, for investment trusts book entry settlement.
Gloss automates the securities trade processing lifecycle from trade capture through to settlement for virtually any security in any currency. Gloss processing has been extended to handle non-resident trade clearing, most recently for the London entity.
Mizuho is also using Gloss for non-resident trade clearing of Japanese equities and convertible bonds, and is processing matching and settlement for Mizuho Securities entities in Hong Kong, New York and London. In a separate initiative, Mizuho Securities is now using the Jasdec Adapter to process investment trusts.
Broadridge has responded to market changes, where investment trusts in Japan have become paperless, with settlement taking place in Jasdec. Broadridge has upgraded the Jasdec Adapter to handle the new requirements of investment trusts. Broadridge believes that providing firms the ability to process investment trusts via the Jasdec Adapter will help them reduce their operational risk and improve their process efficiency.