Fidessa group, a provider of trading, connectivity and market data solutions for the buy-side and sell-side, has added SBI Japannext Securities, a Japanese proprietary trading system, to its global FIX network.
The market data from the proprietary trading system is also provided through the Fidessa network.
SBI Japannext Securities operates the proprietary trading system Japannext PTS. According to research conducted last year, Japannext PTS showed the same or improved prices compared to the main exchange for more than 40 per cent of the total trading hours. In addition, the venue blotter had around five per cent of the order quantity for the best quotes available on the main exchange.
Mitsunori Fukushi, representative director and chief executive, SBI Japannext Securities, says: “We are very pleased to be joining Fidessa’s global network. We can now provide both the onshore and offshore trading communities with easier access to our PTS though this connection. We are determined to continue providing the highest quality pool of liquidity.”
Hiroshi Matsubara, marketing director for Fidessa in Japan, adds: “We are very pleased that Japannext PTS is joining our Fidessa global network. The launch of “arrowhead”, Tokyo Stock Exchange’s new high performance trading system for cash equities, is expected to bring more liquidity from the high frequency trading community into the Japanese equities market, and this community likes to trade across multiple venues. Also, later this month, Japan Securities Clearing Corporation will start clearing PTS transactions and Chi-X Japan, sister venue to one of the largest alternative venues in Europe, will start trading Japanese equities.”
Fidessa’s network provides connectivity to more than 2,400 buy-sides and 530 brokers across 130 markets globally.