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Refinitiv and NRI complete successful launch of Refinitiv BETA and I-STAR/GX with Baird


Refinitiv and Nomura Research Institute (NRI), a provider of consulting services and system solutions, have launched the Refinitiv BETA and I-STAR/GX offering at Baird, an employee-owned, international wealth management, asset management, investment banking/capital markets, and private equity firm.

The go-live with Baird comes at a time when wealth management firms, their advisors and investors are actively seeking full-service digital and automated solutions that help to address the rising levels of market volatility and uncertainty amid the global Covid-19 pandemic. The successful client implementation of the integrated Refinitiv/NRI solution, will provide seamless back-office operation for cross-border trade processing and settlement. 

“We remain committed to our wealth management customers, evermore so now that we are in the middle of a global pandemic requiring remote work and robust digital solution, while global markets struggle to inspire investor confidence,” says Joe Mrak, Global Head of Wealth Management at Refinitiv. “We continue to work around the clock to help enable our customer operations, as statistics from our brokerage transactions and operations service, BETA Systems – point to record trading volumes in recent weeks and months.”   

Designed for institutional and wealth management investment firms, the integrated BETA and I-STAR/GX offering delivers fully automated settlement and straight-through processing of trades executed across all markets. The high-volume solution offers a single-stock record across all asset classes and markets, driving domestic and international corporate actions processing.

In October 2019, Refinitiv and NRI announced the successful go live of the Refinitiv BETA and I-STAR/GX offering, the implementation resulting from the strategic partnership between the two firms. Baird will now also yield the benefits of the combined offering’s automated international post-trade processing for multi-market and multi-currency securities.

“We’re excited about the operational efficiencies we expect to achieve and pass on to our clients through the integrated solution from Refinitiv and NRI,” says Veronica Arias-Maestro, Managing Director of Capital Markets Operations at Baird. “We look forward to being able to more efficiently service our clients from instructing our international custodial partners in real time through fully automated transaction monitoring, cleanup and reconciliation.”

“Our work with Baird has been extremely encouraging, and we are thrilled to bring them live on our combined offering with NRI,” adds Mrak. “The partnership with NRI enables us to offer evermore global diversification with our retail and institutional clients, extending our solutions throughout the entire trade lifecycle.”

“The continued successful implementations of the BETA and I-STAR/GX is a testament to the strength of our partnership with Refinitiv and underscores NRI’s commitment to and growing business in the US and North America,” says Naohiro Sako, Senior Corporate Managing Director at NRI.

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