A new company established by the Japan Securities Dealers Association has launched a service to standardize administrative procedures for foreign-stock trading. More than 40 firms are currently expected to participate, and further standardization of other operations will be considered.
The Japan Securities Dealers Association established a specialized new company in January and has launched a service to streamline administrative procedures for foreign-stock trading for member securities companies. The incorporators included 35 securities companies, and this is the first service to be offered. More than 40 companies are expected to use it, with further expansion anticipated.
Under the new service, an external information provider will handle the operational work and provide overseas corporate action information through the managing company. Securities company staff are expected to face less of a burden in individually reviewing local laws and tax implications.
The Japan Securities Dealers Association began considering ways to improve the efficiency of back-office operations in June 2024. Going forward, it aims to standardize operations beyond foreign-stock administrative procedures, including online account opening and inheritance-related administration, and is also considering adding other services.