Nomura Research Institute, Ltd. (NRI), a consulting and system solutions vendor, has added a “weekly option dealing” component to the I-Star securities back-office solution, officials say. The new component provides access to new options on the Nikkei Stock Average, contracted by the Osaka Exchange.
The new component is scheduled to be made available via the Osaka Exchange on May 25, 2015, officials say.
Through the “Weekly Option Dealing” function, users will be able to use I-Star to enter the new weekly option contracts that are being introduced on the Nikkei Stock Average for market participants, officials say. The feature will also allow users to engage in post-trade activities such as:
- Managing limitation of positions and deposits;
- Engaging in market syndication, reconciliation and accounting;
- And creating regulatory reports for external institutions that are compliant with market standards and ongoing mandates
The added capability is a direct response to emerging market trends and regulatory needs, said Minoru Yokote, senior managing director of NRI. “The addition of a our weekly options feature reflects our strong commitment to our customers’ financial needs by enabling them to take full advantage of the upcoming introduction of new options contracts to the Japanese market,” Yokote says in a prepared statement.
This function follows another added feature, begun in February, which enables users to manage the average price in margin and derivative trading in order to become fully compliant with Japanese regulations that came into effect in March, officials say. This component allows to link to average price trades and executive price trades, while also managing the treatment and booking of fractions rising from average price transactions.
I-Star is operated from the NRI data center and is offered as a software-as-a-service (SaaS) solution, officials say. The services target the manual procedures and operating costs of installing internally developed systems. Since its launch in 1987, I-Star has been adopted by more than 100 financial institutions, and is the de facto standard for the Japanese wholesale securities industry.
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