Mitsubishi USI's cross-asset functions through IT

LONDON: In 2008, post Mitsubishi Securities International (MSI) and UFJ merger in London, the organisation's business plan was then to focus on Business Expansion. This expansion was to be achieved by increasing current trading volumes across the major business areas, as well as the introduction of new trading business such as Inflation Trading and hybrid products. To support this expansion, a project called MUSIC-IR( MUSI Corporate Infrastructure Reinforcement) was initiated. One of the objectives for the project is to investigate various strategic options and implement a strategic platform.

The scope also included cross-asset deals capture system, data warehousing for reference static, market and transaction data, near-time risk and PL functionality, user-interactive valuation and risk platform, optimal STP etc.

The ultimate aim of this project is to implement a cross-asset front to back trading functionality within a highly integrated operational infrastructure.

Now, as per a press note, Formicary Ltd, an information technology company that specializes in building integrated applications/solutions for the Financial Services industry has announced success with helping Mitsubishi UFJ Securities International plc (MUSI) implement a major trading system using Formicary Connect.

"Formicary provided a first class team to support MUSI in their implementation of a major new trading system.” aid Stephen Irons, Vice President, Technology, Mitsubishi UFJ Securities International plc.

“MUSI now has a single front to back cross-asset trading platform that is seamlessly integrated with key existing systems. Hundreds of thousands of trades have been migrated. It is also helping in areas like consolidated market data hub for accurate Profit & Loss reporting. Murex has been rolled out to Hong Kong and other satellite offices globally and has built custom interface to externally price a new class of exotic instruments, equity hybrids using Flex API.”