Financial institutions are under constant pressure to reduce costs, improve operational efficiency, adapt to regulatory changes and grow their business. NRI believes that a combination financial knowledge and information technology are crucial to the industry’s growth and development. Through our lakyara reports, NRI identifies the various capital markets and IT issues impacting our clients and the future of their business.
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Japanese equities’ underperformance and changes in institutional investors’ mandates are major threats that undermine Japanese asset managers’ competitiveness. Japanese asset management companies are well advised to expand globally by developing Asian, including emerging market, asset management capabilities.
Japanese asset managers are increasingly using dark pools in pursuit of price improvement. However, analysis of trades executed by dark pools reveals wide variations in price improvement, reflecting differences in dark pool business models.
As the center of gravity for economic growth shifts, the forum for deciding the “rules” governing the global economy is moving from the G7 to the G20. Exchange rate policy is an important domestic policy as well as a means of adjusting the current account imbalances in the long run. Inasmuch as it plays a larger role in emerging economies, I disagree with the idea that the G7 should specialize in the coordination of exchange rate policy. But to the extent that G7 nations have a large advantage in the global financial system in terms of transactions, business presence, and capacity for regulation, the G7 could be utilized as a forum for coordinating financial regulation.