Multi-asset brokerage and clearing firm Newedge has become the sponsoring clearer to GH Financials as the first remote trading member in Euroyen Futures on the Tokyo Financial Exchange.

Newedge worked with GH Financials to fulfill its trading requirements through the complex application process, providing assistance to both the exchange and the client.
TFX introduced the remote trading membership programme to accommodate growing demand from overseas investors for direct market access to the TFX market. The programme enables overseas investors to become members and access the TFX market directly to trade three-month Euroyen futures and options.

Targeting investors who will be expected to bring new liquidity to the TFX market, remote trading members are eligible to receive various incentives, including trading registration fee exemption and trading fee discount.
This is the first case of a Japanese exchange allowing trading membership of an overseas investor not directly located in Japan.
Chris Topple, global head of clearing at Newedge, says: “Having not been attempted before, this proof of concept should now pave the way for other international banks, brokers and trading groups to join and follow the Newedge/GHF lead. It yet again demonstrates Newedge’s ability to deliver innovative solutions around the global marketplace.”

Peter Lovell, operations director at GH Financials, adds: “We are delighted to be pioneers in remote trading on TFX through our close collaboration with Newedge, whose global presence helped us to navigate the complex application process.”

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