Monex partners with Shizuoka Bank over financial instruments intermediary service
Under the agreement, Monex Inc will be offering the bank’s customers financial products and services, including domestic equities.
Japanese online trading company Monex Inc, a subsidiary of Monex Group, Inc. (TYO:8698), has earlier today announced that it has entered into a partnership with The Shizuoka Bank, Ltd. over financial instruments intermediary service.
As per the terms of the agreement of the companies, Monex will begin offering the bank’s customers financial products and services, including domestic equities, as of Friday, October 19, 2018. Shizuoka Bank, which has entered into a capital and business alliance with Monex Inc’s parent, Monex Group, Inc., will launch the services as part of the collaboration.
For the financial instruments intermediary services, Shizuoka Bank will solicit customers to open a general securities account with Monex through the bank’s website. This allows the bank’s customers to open an account with Monex via the brokerage’s website and deal with a wide array of financial products and services the online trading company offers.
Monex believes that via the collaboration it will be able to expand further its customer base.
Monex and Shizuoka have a long history of collaborations. In August this year, for example, Monex-Saison-Vanguard Investment Partners, a subsidiary of Monex Group, and The Shizuoka Bank, Ltd., launched a new robo-advisory service. The offering, named “SHIZUGIN Wrap (MSV LIFE)”, is a discretionary investment (Robo-Advisor) account service managed by Monex-Saison-Vanguard Investment Partners, Inc. This is an asset formation and management service that permits the account holder to pick the investment objectives, risk tolerance, investment amounts and target amounts. Then, the “Robo Advisor” included in the system performs investment judgments, trading, consultation, etc. in accordance with the customer’s needs.