Mizuho International has gone live with the second phase of a project based on GoldenSource enterprise data management (EDM) solutions. The London-based securities and investment banking arm of Mizuho Securities, part of the Mizuho Financial Group, implemented GoldenSource’s entity master application, Customers & Counterparties, in January and recently went live with the company’s security master application, Securities & Products.
The security master replaces fragmented legacy systems and is integrated on the same platform as the entity master, providing a single and central reference data platform for Mizuho International’s trading, risk and compliance functions. The reference data platform also feeds Mizuho’s recently harmonised settlement and clearing system.
The EDM implementation is part of a wider change programme at Mizuho International, which is being driven, in part, by the Basel Committee’s BCBS 239 regulation and is designed to deliver operational gains and business benefits based on improved data management. Kevin Gage, chief information officer and head of operations at Mizuho International, explains: “As part of a major change in our infrastructure, it was imperative to establish a solid base of customer and securities data. The two GoldenSource products lay the foundation for the new infrastructure, creating a secure source of standardised information for risk management and regulatory and financial reporting systems.”
Neill Vanlint, managing director for global sales and operations at GoldenSource, adds: “By having security and entity data combined on one centralised platform, Mizuho International is well positioned for future requirements.”
Vanlint expects more customers to harmonise their reference data by deploying GoldenSource solutions in a similar way to Mizuho International. He also notes increasing uptake of the company’s managed services, which are well suited to hedge funds and satisfy the needs of customers looking for point solutions to solve particular problems. He explains: “GoldenSource managed services offer applications including pricing, valuations, securities and corporate actions as individual services. Customers buy these services in a different way to software, often identifying a problem and allocating a unit of budget to solve the problem. This is a change for us.”