Mirae muscles into US market with new services; tech provided by FIS
Mirae Asset Securities, a subsidiary of Asia’s Mirae Asset Financial Group, has selected FIS as its technology partner to launch prime brokerage, global securities lending, repo, delta one and correspondent clearing businesses in the US.
Mirae will implement FIS’s Securities360 solution – “a complete and integrated securities processing suite that automates and streamlines critical operations into a single platform” – the vendor says.
It will support investor services, trading, compliance and risk, middle and back office services, securities finance, corporate actions, tax services and reconciliation.
Robert Akeson, COO of Mirae Asset Securities, says the project will help the firm to “establish a strong foundation for growth” and to meet clients’ demands “securely, quickly and efficiently”.
Marianne Brown, COO, institutional and wholesale, FIS, claims “the depth and breadth of FIS’s capabilities are unlike those of any other provider in the securities market”.
Mirae Asset Financial Group operates across 15 markets, including the US, UK, China, India, Australia, Singapore, Hong Kong and Brazil. It has $100 billion of assets under management, wealth management-related assets of $203 billion and insurance services operations of $29 billion.