Managed investment services are a key product for many brokers, but do come with their own set of difficulties. Mutual funds, which comprise the lion’s share of managed investing, require transaction accounting tools, fund administration, as well as mark to market calculations to determine items’ shareholder ownership, taxation and net asset value.
Within the forex industry, popular social trading and managed accounts using MAMM and PAMM software have their own unique issues. This includes dealing with reconciliation when dealing with both A and B-Book customers, allocation of orders and transaction reporting.
Advancing tools for handling its managed investing services, Japanese Nissan Century Securities has announced today that they have partnered with SunGard Financial Systems. According to the terms of the deal, Nissan Century will deploy Sungard’s Valdi and Stream Clearvision products as a managed service to support its Japanese equities, derivatives and commodities brokerage businesses. The SunGard services provide Nissan Century with both front-end trading and post-trade processing to automate portions of the managed-services offering for the broker.
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According to Nissan Century, the new services will replace previous systems that were in place, including manual order processing, which had limited the amount of managed services’ customer order flow that they could handle.
The need for greater efficiency comes as managed accounts have become more popular among Japanese retail clients, such as Tradency’s Mirror Trader which has gained interest from many of the country’s largest forex brokers. For Nissan Century, SunGard’s Valdi system will provide managed services tools for the broker’s multi-asset offering of stocks, derivatives and commodities.
In a joint public release of the news, Executive Director and Head of Global Sales at Nissan Century Securities Yoshinobu Nakamura stated, “Our ambitious development plan required us to look for a solution that could accept more give-up order flows and reduce manual processing time and errors. Integrating SunGard’s solutions and managed services together will help us automate our trading operations to increase capacity and accept more orders that helps us capture more client business. Furthermore, the ease of working with SunGard will help us lessen the burden for the provision and operations of our trading platform to drive more value from our own resources and lower our total cost of ownership.”
Kiyoshi Niki, representative director and president of SunGard Japan KK added, “Leveraging multiple SunGard solutions in a managed services environment will help Nissan Century to achieve better total cost of ownership with the ease of working with SunGard with the capability to provide a total solution.”