Nomura 2021 IBD SA

What does the IB SA 2021 recruitment timeline for Nomura look like and when is the application deadline?

On their IB 2021 Job post, it says "Apply now for your application to be reviewed on a rolling basis through May 3rd. Applications will reopen in July for fall recruitment".

I'm not sure why Nomura has two different timelines and their application deadline is just confusing, so if any one has any insights, that would be appreciated.

Thanks!

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