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Nomura teams up with messaging app for online brokerage venture

Aug. 20, 2019 9:25 AM ETNomura Holdings, Inc. (NMR) StockNMRBy: Liz Kiesche, SA News Editor1 Comment
  • Nomura Holdings (NYSE:NMR) and Line Corp., which runs Japan's most popular messaging app, start an online brokerage venture that will charge zero commissions for trading Japanese shares.
  • Line Securities Corp., the joint venture between Nomura and Line, will make money from the bid/ask spreads on trades, the JV's Co-CEO Yoshikazu Yonenaga said.
  • The new offering will help Line diversity into the online brokerage business and reduce its reliance on advertising. For Nomura, it will help attract younger, digital-savvy clients.

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