Broadridge in Japan Announces Agreement with Mitsui Knowledge Industry (MKI), and New Bank of Japan Connectivity
Poster: SySAdmin
Posted on April 5, 2011 at 12:07:01 AM
Broadridge in Japan Announces Agreement with Mitsui Knowledge Industry (MKI), and New Bank of Japan Connectivity
LONDON and NEW YORK, April 5, 2011/PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR) today announced
that it has concluded a software purchase agreement with Mitsui Knowledge
Industry Company Limited (MKI) in Japan. Under this agreement, Broadridge has
acquired all intellectual property rights in MKI's B-Fund solution. The
solution provides connectivity and associated processing for Japanese
government bonds (JGB) and Japanese yen (JPY) payments that clear and settle
through the Bank of Japan's BOJ-Net System.
The B-Fund solution will be renamed and marketed by Broadridge
as Gloss BOJ Processing Solution, with changes being effective immediately.
Under the terms of the software purchase agreement, Broadridge
will license the B-Fund solution back to MKI to allow MKI to provide
continuing support to its existing customer base.
The Bank of Japan has announced plans to redevelop its BOJ-Net
System utilising XML-based messaging, which is expected to go live in early
2016. Broadridge recognises that this change is pending and is fully
committed to meeting the new requirements, and any client of the Gloss BOJ
Processing Solution can be confident of continuity of service across this
large-scale industry change. As a provider of solutions to many markets,
Broadridge has long-standing and industry-leading experience in XML-based
messaging solutions.
Broadridge can now offer a full-function multi-language,
including Japanese, post-execution clearing and settlement solution for
equities, fixed income and related instruments with interfaces to both JASDEC
and the Bank of Japan, together with comprehensive regulatory and legal
reporting (JRR / JLL) for Japan. The same platform can also provide global
support for settlement at custodians and CSD/ICSDs via SWIFT or Euroclear,
and domestic settlement in key international markets. As Broadridge supports
component-based solutions, Broadridge will also market free-standing JASDEC
and BOJ functionality and connectivity solutions.
The necessary knowledge transfer and support arrangements have
commenced to allow Broadridge to immediately offer this solution to existing
customers and prospects. The underlying technology base is highly compatible
with Broadridge's existing solutions and well-understood by its large IT
teams in Japan and India.
"We believe this is a game-changing announcement," said Robin
Kneale, Head of Strategy and Product Management, Securities Processing
Solutions, International, Broadridge. "We are very pleased to form an
alliance with a highly respected Japanese company. We have been established
and active in Japan for over 12 years, serving a prestigious, core set of
clients. Now there is real choice available to all banks and brokers in Japan
looking to connect to BOJ and JASDEC to process Japanese equities and fixed
income on a modern, real-time, globally-proven solution that also offers
extensive international capabilities."
Shigeo Suzuki, Executive Managing Officer, MKI said, "We are delighted to
enter into this initiative with Broadridge. They are a leading provider of
global trade processing and settlement solutions, with an exemplary
reputation for the highest standards of customer service and a strong
track-record for innovation and product investment in Japan. It is our firm
belief that banks and brokers in Japan are interested in a more global
outlook and solution set, and Broadridge is a proven leader in this field. We
look forward to working together to extend the services and solutions offered
to our regional client base and to the global financial community here in
Japan."
Tom Carey, President, Securities Processing Solutions, International,
Broadridge, added, "We are delighted to be working with MKI and extending our
solutions for the Japanese market. This reaffirms Broadridge's long-term
commitment to Japan and our commitment to be a leading solutions vendor to
firms in this market."
About Broadridge
Broadridge is a technology services company focused on global
capital markets. Broadridge is the market leader enabling secure and accurate
processing of information for communications and securities transactions
among issuers, investors and financial intermediaries. Broadridge builds the
infrastructure that underpins proxy services for over 90% of public companies
and mutual funds in North America; processes more than $3 trillion in fixed
income and equity trades per day; and saves companies billions annually
through its technology solutions. For more information about Broadridge,
please visit http://www.broadridge.com.
Media Contacts:
Zoë Grayston or Caroline Beer
Metia Metia
+44(0)20-3100-3607 +44(0)20-3100-3796
broadridge@metia.com broadridge@metia.com
Mike West
Vice President, International Marketing
Broadridge Financial Solutions, Ltd.
+44(0)20-7551-3224
mike.west@broadridge.com
Source: Broadridge Financial Solutions, Inc.
Media Contacts: Zoë Grayston, Metia, +44(0)20-3100-3607, broadridge@metia.com; or: Caroline Beer, Metia, +44(0)20-3100-3796, broadridge@metia.com; Mike West, Vice President, International Marketing, Broadridge Financial Solutions, Ltd., +44(0)20-7551-3224, mike.west@broadridge.com
LONDON and NEW YORK, April 5, 2011/PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR) today announced
that it has concluded a software purchase agreement with Mitsui Knowledge
Industry Company Limited (MKI) in Japan. Under this agreement, Broadridge has
acquired all intellectual property rights in MKI's B-Fund solution. The
solution provides connectivity and associated processing for Japanese
government bonds (JGB) and Japanese yen (JPY) payments that clear and settle
through the Bank of Japan's BOJ-Net System.
The B-Fund solution will be renamed and marketed by Broadridge
as Gloss BOJ Processing Solution, with changes being effective immediately.
Under the terms of the software purchase agreement, Broadridge
will license the B-Fund solution back to MKI to allow MKI to provide
continuing support to its existing customer base.
The Bank of Japan has announced plans to redevelop its BOJ-Net
System utilising XML-based messaging, which is expected to go live in early
2016. Broadridge recognises that this change is pending and is fully
committed to meeting the new requirements, and any client of the Gloss BOJ
Processing Solution can be confident of continuity of service across this
large-scale industry change. As a provider of solutions to many markets,
Broadridge has long-standing and industry-leading experience in XML-based
messaging solutions.
Broadridge can now offer a full-function multi-language,
including Japanese, post-execution clearing and settlement solution for
equities, fixed income and related instruments with interfaces to both JASDEC
and the Bank of Japan, together with comprehensive regulatory and legal
reporting (JRR / JLL) for Japan. The same platform can also provide global
support for settlement at custodians and CSD/ICSDs via SWIFT or Euroclear,
and domestic settlement in key international markets. As Broadridge supports
component-based solutions, Broadridge will also market free-standing JASDEC
and BOJ functionality and connectivity solutions.
The necessary knowledge transfer and support arrangements have
commenced to allow Broadridge to immediately offer this solution to existing
customers and prospects. The underlying technology base is highly compatible
with Broadridge's existing solutions and well-understood by its large IT
teams in Japan and India.
"We believe this is a game-changing announcement," said Robin
Kneale, Head of Strategy and Product Management, Securities Processing
Solutions, International, Broadridge. "We are very pleased to form an
alliance with a highly respected Japanese company. We have been established
and active in Japan for over 12 years, serving a prestigious, core set of
clients. Now there is real choice available to all banks and brokers in Japan
looking to connect to BOJ and JASDEC to process Japanese equities and fixed
income on a modern, real-time, globally-proven solution that also offers
extensive international capabilities."
Shigeo Suzuki, Executive Managing Officer, MKI said, "We are delighted to
enter into this initiative with Broadridge. They are a leading provider of
global trade processing and settlement solutions, with an exemplary
reputation for the highest standards of customer service and a strong
track-record for innovation and product investment in Japan. It is our firm
belief that banks and brokers in Japan are interested in a more global
outlook and solution set, and Broadridge is a proven leader in this field. We
look forward to working together to extend the services and solutions offered
to our regional client base and to the global financial community here in
Japan."
Tom Carey, President, Securities Processing Solutions, International,
Broadridge, added, "We are delighted to be working with MKI and extending our
solutions for the Japanese market. This reaffirms Broadridge's long-term
commitment to Japan and our commitment to be a leading solutions vendor to
firms in this market."
About Broadridge
Broadridge is a technology services company focused on global
capital markets. Broadridge is the market leader enabling secure and accurate
processing of information for communications and securities transactions
among issuers, investors and financial intermediaries. Broadridge builds the
infrastructure that underpins proxy services for over 90% of public companies
and mutual funds in North America; processes more than $3 trillion in fixed
income and equity trades per day; and saves companies billions annually
through its technology solutions. For more information about Broadridge,
please visit http://www.broadridge.com.
Media Contacts:
Zoë Grayston or Caroline Beer
Metia Metia
+44(0)20-3100-3607 +44(0)20-3100-3796
broadridge@metia.com broadridge@metia.com
Mike West
Vice President, International Marketing
Broadridge Financial Solutions, Ltd.
+44(0)20-7551-3224
mike.west@broadridge.com
Source: Broadridge Financial Solutions, Inc.
Media Contacts: Zoë Grayston, Metia, +44(0)20-3100-3607, broadridge@metia.com; or: Caroline Beer, Metia, +44(0)20-3100-3796, broadridge@metia.com; Mike West, Vice President, International Marketing, Broadridge Financial Solutions, Ltd., +44(0)20-7551-3224, mike.west@broadridge.com