Nomura Research Institute (NRI), a provider of consulting services and system solutions, has launched VOLCS, an ASP (Application Service Provider) multipurpose management system for financial institutions.
VOLCS provides two functions such as due day management for structured bonds and OTC derivatives as well as cash management, and the former is usually not available in an existing enterprise system. Each function can be used independently and thus can be used by non-financial firms depending on their purposes.
Most recently, structured bonds and OTC derivatives have been receiving more attention due to the effects of stock price changes and Japan’s negative interest rates. Both financial products are complicated and require detailed calculation and settlement day management, causing a major operational and financial burden to financial institutions. VOLCS enables its users to reduce the operational burden significantly, resulting in increased trading volume. They can also reallocate their resources from due day management to strategic division for more sales power.
“NRI believes that VOLCS can not only improve the operational efficiency at each firm, but also reduce the industry’s burden as a whole, as more firms in the financial industry implement this service to increase internal efficiency. The ability for the industry to share the standardised calculations and results will provide a more streamlined environment and a decrease in operational burdens which provides significant cost reduction as well. We look forward to working with our clients to help them solve these problems.” says Minoru Yokote, Senior Managing Director of NRI.
