Thunderhead selected by Nomura to automate Derivative Trade Confirmations
London, Thursday 27th January
Thunderhead, the provider of highly usable, multi-channel document technology, today announces that investment bank Nomura International plc has selected the Thunderhead Platform to automate the generation of derivatives trade confirmations and deliver documents to trading partners using electronic channels.
In line with the growth of its derivatives business in Europe and a greater volume and complexity of its equity, credit and interest rate derivative transactions, Nomura is expanding its capacity for managing derivative trade confirmations.
By implementing Thunderhead, business users will be able to manipulate easy-to-understand rules and create content within an intuitive GUI. All client-ready confirmations and payment advices — including those for very complex and exotic derivatives — will then be triggered by the trading system and generated and delivered to the counterparty automatically. Thunderhead’s multi-channel capability means that Nomura will be able to produce documents in any format required by trading partners, from print to fax to email. Movement to counterparty settlements made via FpML (Financial Products Markup Language) could also be supported.
This automation will allow Nomura to meet its aggressive goals for STP (straight through processing) rates. However, a proportion of trade confirmations will always demand manual intervention and review. Thunderhead’s integral exception handling capability will allow business users to define rules to route documents through the approval process using existing workflow applications.
Maintenance of full audit trail allows ongoing compliance with financial regulations and reduction in risk exposure.
“In an environment where industry regulations are becoming more pervasive and margins tighter, forward-thinking investment banks like Nomura are recognizing that advanced document generation capabilities are a valuable weapon to cut operational risk, manage compliance and control costs,” commented Glen Manchester, Thunderhead CEO.
About Thunderhead
A leader in the document generation industry, Thunderhead is focused on developing
next-generation technology that automates the creation and assembly of high-volume
multi-channel documents. Thunderhead is the world's first document generation
platform to be built purely around XML, and the first to use natural language
algorithms and usability theory to put the business user (rather than IT specialists)
firmly in control of the document generation process.
Nomura Group, with its core businesses of securities and related businesses,
is dedicated to providing a broad range of financial services for individual,
institutional, corporate and government customers. We offer a diverse line of
competitive products and value-added financial and advisory services through
the 133 domestic branch offices of Nomura Securities Co., Ltd. and our overseas
network that combines offices in 29 countries. Our business activities include
investment consultation services for domestic retail investors, securities brokerage
services, securities underwriting for domestic and foreign governments and corporations,
mergers and acquisition and financial advisory services, merchant banking, and
asset management for investment trusts and pension funds.
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