OpenMarkets has announced it will transition its back-office functions to NRI Financial Solutions, an affiliate of major Japanese financial services firm Nomura Holdings.
Under the agreement, NRI technology will power OpenMarket's equity trades, the broker said in a statement.
"OpenMarkets has transitioned to NRI Financial Solutions for broker dealers to advance and customise its post-trade multi-asset capabilities as part of its focus on automating processes and increasing scalability," the statement said.
"NRI is an innovative, technology-driven company able to provide OpenMarkets with greater efficiencies and integration capabilities," said OpenMarkets chief executive Andrea Marani.
"As OpenMarkets was seeking a more technologically advanced system, one that could efficiently integrate with our internal systems, and accommodate our expanded services (such as our integration with Saxo Capital Markets), partnering with NRI was a natural fit.
"We are a technology-focused broker that builds and manages much of our own in-house technology via our partnership with Paritech.
"This includes our own middleware and order management systems, both of which are dependent upon seamless integration with the back-office solution which NRI was well-suited to provide.
"We are very excited to announce our partnership with NRI and the opportunities it represents, both locally and offshore."
