Nomura Research Institute announced an entirely revamped securities back-office solution for wholesale brokerage firms, which has been rebranded from I-STAR to I-STAR/CORE. The service has a dominating share in Japan’s capital markets, including 40 percent of Japanese equity system and 45 percent of Japanese derivative system.
As part of the migration, the global provider of system solutions and consulting service eliminated the mainframe system used for I-STAR and have instead implemented a server-based system for I-STAR/CORE, resulting in an enriched real-time processing, reliability, and expandability.
Users are already enjoying a significant reduction of nighttime batch and enhanced monitoring functions for exceptions. Recovery time objective is reduced by half, while security and audit functions are enhanced, and functionality is streamlined. The migration was made by late December 2017 for all existing I-STAR clients, including global top investment banks.
Masaaki Yamazaki, Managing Director of NRI, commented: “We care greatly about the demands of our customers, and as we saw the popularity of I-STAR grow we made sure that we continued to listen to their functionality needs and worked diligently to provide them a solution that addressed them. The decision to create a revamped system for I-STAR was an obvious one, and we are certain that I-STAR/CORE system will provide increased efficiency and stronger functionality for our valued customers.”
Financial institutions’ needs are drastically diversifying in response to ever-constant innovation and system reforms in capital markets, including the shortening of JGB settlement cycles. NRI chose to revamp I-STAR, the industry’s de facto standard solution in the Japanese market, to best meet these changing needs, enabling financial institutions to keep pace with the advancement of capital market standards.
Founded in 1965, NRI is the largest Japanese consulting and IT consulting firm, with annual sales exceeding $3.7 billion. and employing about 12,000 people. Offering clients holistic support of all aspects of operations from back- to front-office, Nomura Research Institute’s expertise and innovative solutions are a favorite among broker-dealers, asset managers, banks and insurance providers.