SBI Japannext securities joins Fidessa’s global network

Tokyo, 29th July 2010 - Fidessa group plc (LSE: FDSA), provider of high performance trading, connectivity and market data solutions for the buy-side and sell-side, today announced its global FIX network's connectivity to SBI Japannext Securities, one of the leading Japanese Proprietary Trading Systems (PTSs). The market data from the PTS is also provided through the Fidessa network.

SBI Japannext Securities operates one of the leading PTSs in Japan, known as 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 percent of the total trading hours. In addition, the venue blotter had around 5 percent of the order quantity for the best quotes available on the main exchange.

Mr. Mitsunori Fukushi, Representative Director & CEO, SBI Japannext Securities Co., Ltd., said: "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, commented: "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 (HFT) community into the Japanese equities market, and this community likes to trade across multiple venues. Also, later this month, Japan Securities Clearing Corporation (JSCC) 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 is committed to continuing to expand the market coverage of its global network and to meet the demands of the trading community with advanced trading tools such as SOR (Smart Order Routing)."

Fidessa's network provides connectivity to more than 2,400 buy-sides and 530 brokers across 130 markets globally. Fidessa's products serve around 25,000 users across more than 850 clients around the world and are used by more than 85 per cent of tier-one financial institutions.

About SBI Japannext

SBI Japannext Co., Ltd. was established in November 2006 as the first full-scale Proprietary Trading System (PTS) trading Japanese equities for institutional liquidity provided from leading broker houses in Japan. The venue deploys a state-of-the-art trading system used by leading worldwide exchanges such as NYSE Euronext and started its nighttime session in October 2007. Trading was expanded to cover the daytime session in October 2008. The daily trading value of "Japannext PTS" reaches 15.6 billion yen from time to time, and it has been recognised as one of the leading execution venues in Japan.

Service Overview 
 Daytime Session Nighttime Session 
Trading Hours8:20am -4:30pmSession 1: 7:00pm -11:59pm
Session 2: 0:30am -2:00am on the next day (open on business days only)
Tick Size1/10th of exchange tick sizes, with a maximum tick size of JPY 100.Same as exchange tick sizes.
Stocks TradedApprox. 4,000 issues (all of the stocks, except for foreign equities, and other financial products listed on the Japanese stock exchanges)Approx. 4,000 issues (all of the stocks, except for foreign equities, and other financial products listed on the Japanese stock exchanges)
Matching Method of Trading PriceOrder driven continuous matching by limit orders
Price > Time priority

 

Trading Participants

  1. SBI Securities
  2. Rakuten Securities
  3. Click Securities
  4. Goldman Sachs Securities
  5. Credit Suisse Securities
  6. Morgan Stanley MUFG Securities
  7. Merrill Lynch Japan Securities
  8. UBS Securities

Additional information can be found at http://www.japannext.co.jp/ (Japanese only)

PDF (0.09 MB)