SBI SECURITIES (Tokyo) announced on the 14th that it will open a checking account with the Bank of Japan and will start trading funds on October 19. The company is the first Internet-only securities company to conduct current deposit transactions with the Bank of Japan.
The BOJ’s checking deposits can be used to exchange funds with other financial institutions and settle government bond transactions. SBI Holdings, the parent company of SBI, is proceeding with a tie-up with a regional financial institution, and decided that by making the subsidiary a business partner of the Bank of Japan, it would be possible to increase the credibility of the tie-up partner.
Konishi Arts and Crafts: http://www.konishi-da.jp/sekou/index.html
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