Broadridge Signs Multi-year Agreement with BNP Paribas Securities in Japan
BNP Paribas Securities (Japan) has signed a new, multi-year agreement to use the Broadridge Financial Solutions’ Japan Securities Depository Center (JASDEC) Adapter, for its paperless equities operation. Broadridge says that this will provide BNP Paribas with the capability to support its Japanese equities business for domestic clients as well as the clearing/custody operations they perform on behalf of their affiliates. The new system will help the firm to meet its compliance requirements associated with Japan’s mandatory paperless equity regulations, which take effect in January 2009. Broadridge’s solution is a fully automated connectivity module to JASDEC’s pre-settlement matching system, book entry transfer system and shareholder notice system. It uses both online, real-time TCP/IP and Zengin TCP/IP file transfer protocols. This includes a user interface with enquiry functions, trade and settlement matching, reporting and a delivery prioritisation monitor.