Nomura to revamp digital asset division as part of strategic push toward crypto

Rick Steves

Nomura acknowledges that digital assets such as cryptocurrencies, security tokens, and non-fungible tokens are gaining presence as a new asset class and a new range of services is emerging as distributed ledger technology is applied to traditional finance. 

Nomura to close derivatives business

Nomura Holdings, Inc. is about to revamp its Future Innovation Company into a newly established Digital Company, effective April 1, 2022, the firm announced. Future Innovation Company was established in April 2019 and focused on planning and developing digital services.

The reorganization aims to strengthen collaboration in the digital domain across Nomura subsidiaries, including its international operations, and foster initiatives in the name of its new strategic mission, which includes further business development and global collaboration.

Digital assets are critical part of Nomura’s strategic drive

Kentaro Okuda, President and Group CEO at Nomura, said: “This is an important next step in our digital evolution. Digital technology is a critical part of our strategic drive to expand our operations in private markets. The new Digital Company will lead deeper collaboration among internal and external stakeholders, accelerate our uptake of digital technologies, and enhance our client services.”

Nomura acknowledges that digital assets such as cryptocurrencies, security tokens, and non-fungible tokens are gaining presence as a new asset class and a new range of services is emerging as distributed ledger technology is applied to traditional finance.

Nomura will tap into this and expand its private markets businesses, broaden its services and leverage advanced digital technologies to provide clients with new investment opportunities and added value, the firm stated.

Finance Feeds has previously covered Nomura’s partnership with Refenitiv for its wealth management business. The Refinitiv Workspace for Wealth Advisors helps drive timely market insights and analytics for its relationship managers and investment advisors across Singapore and Hong Kong.

Refinitiv’s wealth management business addresses the increased needs of wealth advisory clients: 43% agree they are more likely to need investment advice now than a year ago, according to a recent report.

Last year, Nomura launched an eFX pricing and trading engine in Singapore, with support from the Monetary Authority of Singapore (MAS). Nomura’s fourth e-FX pricing engine follows others in Tokyo, London, and New York, and addresses the needs of the investment bank’s Asian client base as the group continues its focus on non-deliverable forwards and G10 FX in the region.

Read this next

Retail FX, Technology

MetaTrader’s iOS issue opens brokers’ eyes to other trading platforms

In a surprising (or-not-so-surprising) move, Apple has removed MetaTrader 4 and MetaTrader 5 from its App Store in a huge blow for the leading FX trading platform provider.

Retail FX

Pepperstone adds Capitalise.ai analytics and automated trading tools free of charge

“We look forward to bringing significant value to Pepperstone traders and making a real, positive impact in their daily trading habits. We are excited to welcome them on board.”

Retail FX

FP Markets wins Best Global Value Broker for 4th consecutive year at the 2022 Global Forex Awards

“We greatly appreciate the continued international recognition as at FP Markets we pride ourselves on these attributes and these prestigious awards are testament to the hard work from our global team to always provide our clients with the ultimate trading experience.”

Inside View

How to Engage Your Customer at Every Stage of Their Journey

As many as 89% of successful businesses say that providing assistive customer experiences is critical to their growth. That’s because a mere 5% increase in customer retention can boost profits by 25% to 95%.

Industry News

CFTC fines Chinese firms Chinatex and COFCO $720,000 for wash trading

Chinatex traders engaged in wash trading in order to liquidate a long position in the account of an affiliated company and re-establish the position in its own account, to the ultimate benefit of its parent company, COFCO.

Industry News

US-based operation of Brazilian broker XP fined $500,000 for recordkeeping failures

“Proper recordkeeping is vital to protecting our markets and market participants from fraud and manipulation. This case serves as another example of the Commission’s intent to vigorously enforce the recordkeeping obligations of its registrants.”

Digital Assets

Bitfinex announces integration of USDt on Polkadot

Polkadot is the brainchild of British computer programmer and Ethereum co-founder and former CTO Gavin Wood.

Executive Moves

FPG hires ex-Fireblocks Chris Hazelton to head marketing at crypto prime broker

“Chris’s experience as a marketing leader at several exceptional businesses will help us refine our message to an institutional audience that’s overwhelmed with new information and show tangible examples of how we’ve helped customers like them scale successfully in crypto.”

Podcasts

FinanceFeeds Podcast Ep. #6: Gold-i’s Tom Higgins talks efficiency in FX and inner workings of Crypto Switch

On its sixth episode, the FinanceFeeds Podcast welcomed Tom Higgins, the founder and chief executive of trading systems integration provider, Gold-i.

<