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Nomura Digitizes Wholesale Business

Jez Mohideen, global chief digital officer at Nomura, predicted that in five years’ time between 30% and 40% of the business will operate differently due to digitization, according to a story in MarketsMedia. Mohideen said that the main remit of the wholesale digital office is to improve the customer experience, increase efficiency, grow revenues and help the firm enter new businesses. He said, “In the past nine months we have focused on our data strategy, the use of artificial intelligence and machine learning in electronic trading, setting up labs and investigating digital assets.” For its data strategy, Nomura has built a data lake that, combined with a data-centric approach, provides the ideal platform to combine the best of humans and machines. “The focus has been on fixed income in the front office and there have been some tangible benefits from proofs of concept that will go into production in the next six months,” he added. “We expect to expand to currencies and commodities and equities in the next 18 to 24 months.” Last month Nomura announced an investment in AIM2, a venture established by hedge fund Brevan Howard Asset Management which specializes in building AI-powered products for the finance industry.

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