FNX and NTTDATA to Launch First Full Service ASP in Japanese
The system will initially be offered to 23 regional institutions currently using NTT DATA products, with the goal of expanding the reach of the system both across instrument coverage and to new institutions. The service will provide Sierra Treasury’s full range of trading, risk management and back office capabilities on a fully outsourced basis. Initial products to be covered include Interest Rate Derivates, FX Cash, and FX Options with future offerings of Exchange Products, Fixed Income, and Equities coverage. The service is slated to go live in August and will be rolled out to beta clients shortly. The demand for improved risk management in the Japanese market has risen due to the increase of rigorous monitoring by the Financial Services Agency of Japan. Firms are increasingly using trading and risk management practices to help maintain capital adequacy ratios and to monitor operational risk.