NRI Adds New Feature to its I-STAR Suite to Enhance Back Office Solution

The new feature will allow increased engagement in post-trade activities and respond to JPX's derivatives trading system.

Nomura Research Institute (NRI), a provider of consulting services and system solutions, has added new functionality to I-STAR, NRI’s securities back-office solution for wholesale brokerage firms.

The new feature which adapts to the Next Generation Derivatives Trading System (Next J-GATE) of Osaka Exchange Inc., a subsidiary of Japan Exchange Group, went live yesterday.

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Increased Functionality

Users are now able to engage in post-trade activities for newly added products to the Next J-GATE platform, such as TSE Mothers Index Futures, TAIEX Futures, FTSE China 50 Index Futures, and JPX-Nikkei Index 400 Options, and includes managing limitation of positions and deposits, engaging in market syndication, reconciliation and accounting, and creating regulatory reports for external institutions which are compliant with market standards and ongoing mandates.

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Trading rule revisions with the launch of Next J-GATE state that strike prices may be set based on application from trading participants and the number of contract months of TOPIX Options will be increased to 19 up to a maximum of 5 years.

The new functionality means that I-STAR can now respond to the smaller tick size increments for J-NET derivative trading, set strike prices based on application and respond to increased number of contract months of TOPIX Options.

Background

I-STAR provides a wide range of functionality that is required for back-office operations of the securities business, from execution to settlement and accounting, and also enables the management of trades across multiple asset classes, including equities, bonds, derivatives and investment trusts. The solution also provides steady support around the rapidly changing financial needs and regulations within the Japanese securities industry.

Minoru Yokote, Senior Managing Director of NRI, commented: “NRI is constantly striving to ensure operational excellence for our clients by providing regular updates to our solutions and services to adhere to industry changes. I-STAR is the industry’s standard solution and we will continue to invest in tailoring our products to meet the needs of the financial services industry and to easily accommodate industry platforms like NEXTJ-GATE.”

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