Mizuho Securities USA has signed a multi-year agreement to outsource its fixed-income trade processing to ICI/ADP, utilizing the firm’s impact solution.
Mizuho Securities USA selected impact for its real-time processing capabilities and its flexibility to handle foreign and domestic fixed-income instruments including mortgage-backed securities. ICI/ADP and Mizuho Securities USA have successfully completed installation.
Impact provides trading support for fixed-income securities, including foreign debt instruments, mortgage-backed and asset-backed securities. Its straight through processing capabilities provide deal capture and editing facilities, constant tracking of the effects of market changes on positions, on-line pricing, and an integrated collateral management and funding module. All this information flows to back office operations including a customizable general ledger and regulatory compliance reporting.
“Mizuho’s decision to choose us as their outsourcing provider increases the percentage of primary dealers outsourcing their Fixed Income process with ICI/ADP solutions to 92%,” said Doug Politi, Senior Vice President and General Manager, ICI/ADP. “We are excited about providing Mizuho with our fixed-income processing solution and look forward to a long-standing relationship. impact will enable Mizuho to consolidate processing and improve operating efficiencies.”