More NewsJapanese Bank Expands FNX Deal

Japanese Bank Expands FNX Deal

Mizuho Bank has licensed FNX’s Sierra System for use in processing interest rate products. Mizuho Bank and its predecessor banks have used Sierra for FX Options trading and risk management since 1997. Mizuho Bank trading and technology experts decided to integrate the interest rate futures and options desk onto Sierra’s open architecture platform to take advantage of FNX’s STP solution, said the bank. By integrating systems, Mizuho Bank aims to position itself for further expansion of current and future trading business, while gaining cost efficiencies as well, according to FNX. The Sierra system contains extensive management and control features for processing exchange-traded products, with support for over 95 exchanges world-wide. In addition, the system offers market risk and operational risk features, as well as fully automated STP with exception management.

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