Monex partners with Shonai Bank, Hokuto Bank over financial intermediary services

Maria Nikolova

The Japanese brokerage has entered into consignment agreements with the banks in respect of financial instruments intermediary services.

Japanese online trading company Monex Inc, a part of Monex Group, Inc. (TYO:8698), today announces that it has entered into consignment agreements with The Shonai Bank Ltd. and Hokuto Bank Ltd. over the provision of financial intermediary services.

Under the plans, effective February 12, 2019, Monex will start providing access to financial instruments including domestic stocks and financial services to the customers of Shonai Bank and Hokuto Bank. The move is set to allow the banks’ customers to manage their asset management through securities trading.

Using the newly launching financial instruments intermediary services, Shonai Bank and Hokuto Bank will act as an intermediaries to open consolidated securities trading accounts with Monex via Shonai Bank’s and Hokuto Bank’s websites. This allows the customers of the banks to buy and sell various types of financial instruments and use financial services provided by Monex.

Monex expects that its partnership with Shonai Bank and Hokuto Bank will stimulate the participation of more new individual investors in building and managing assets, leading to further expansion of the customer base of Monex.

This is not the first such partnership launched by Monex. In October 2018, the brokerage unveiled a partnership with The Shizuoka Bank, Ltd. over financial instruments intermediary service. 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.

Read this next

Institutional FX

FX volume drops 13pct at CLS Group in April 2022

FX settlement specialist CLS Group today reported that the executed volumes of currency trading on its platforms were notably down in April.

Crypto Insider, Opinion

Regulation: The Gold-Standard for Crypto-Assets

When the US supervisory authority SEC allowed an investment product referencing Bitcoin futures to be traded for the first time last October, this was widely perceived as a signal that cryptocurrencies had finally become established as an asset class.

Executive Moves

Solid hires FX industry veteran Darren Barker for multi-bank ECN’s business development

His curriculum vitae includes former roles at Cantor Fitzgerald, Sucden Financial, R.J. O’Brien, Jefferies, Natixis, Unicredit, J.P. Morgan, Raiffeisen, RBS International, UBS, Deutsche Bank, and Citi. 

Inside View

Mihails Safro, xpate CEO: Tips sellers need to know to overcome compliance obstacles

The unprecedented growth of e-commerce changed shopping dramatically last year. Many sellers suddenly faced a rapidly growing number of customers who had to stay home during the lockdown. When some clients adopted Netflix and Spotify as part of a daily routine, others ventured into online business. Robinhood alone saw a whopping 6 million rise in user numbers in 2 months. 

Institutional FX

BMLL delivers Level 3 data to Kepler Cheuvreux for order book analytics and algo performance

The solution covers more than 6.5 years of harmonised historical data from 65 venues and combines it with easy to use APIs and analytics libraries in a secure cloud environment. 

Digital Assets

Crypto Is An Invaluable Tool In The Fight Against Financial Oppression  

Crypto has proven itself to be much more than just a hot investment. Indeed, some say it’s poised to play a critical role in the future of finance

Executive Moves

Parameta appoints Head of Benchmark and Indices with a focus on ESG and rates

The firm said building out its benchmarks & indices offering will now be a core priority, with a particular focus on the ESG and rates space.

Digital Assets

WunderTrading brings automated crypto trading to United States

“Among developed countries, Americans are the heaviest users of cryptocurrencies, with 13% having invested in cryptocurrencies over the past year.”

Retail FX

ACY Securities sponsors child safety and family welfare charity Barnardos Australia

Sponsoring Barnardos will give ACY Securities and its employees an opportunity to do volunteer work through different outreach programs.