06 February 2017
Florida
Reporter: Drew Nicol

Mirae seeks help of FIS


Mirae Asset Financial Group has partnered with FIS to assist its entrance into the US securities financing markets.

The US subsidiary of the Asia-based financial services group will leverage FIS’s Securities360 solution for its securities processing suite and automation and streamlining capabilities.

Robert Akeson, COO of Mirae Asset Securities (USA), said: “As a non-bank financial institution, and given our significant financial resources and experienced team, Mirae Asset Securities (USA) sees unique opportunities to connect with clients whose counterparties, prime brokers, clearing firms and execution agents may be rethinking their position in the market because of Basel III and other regulations.”

“Working with FIS will give us the ability to strategically focus on our business and meet all of our clients’ needs securely, quickly and efficiently. This partnership will allow us to establish a strong foundation for growth.”

Marianne Brown, COO of institutional and wholesale at FIS, added: “The depth and breadth of FIS’s capabilities are unlike those of any other provider in the securities market.”

“Our solutions span the entire transaction lifecycle, which significantly increases our ability to reduce operational and regulatory complexity, and streamline how broker-dealers respond to new business opportunities and client needs. Leveraging FIS for our full set of end-to-end capabilities will allow Mirae Asset Securities (USA) to focus on its growth and success as it enters the market.”

Akeson, along with Peter Volino and Richard Misiano, joined Mirae Asset Financial Group last year to launch a global securities lending and repo business.

Mirae Asset Financial Group has offices in 15 markets, including the US, UK, China, India, Australia, Singapore, Hong Kong and Brazil.

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