Chi-X Japan, the proprietary trading system (PTS) operated by Chi-X Global, has reported another rise in trading volumes in January 2011, after a solid start to the year for Japanese equities overall.
Chi-X Japan reported turnover of ¥211.8 billion (US$2.588 billion) in January 2011, 45% higher than the ¥115 billion (US$1.405 billion) in December 2010.
By contrast, total trading in Japanese equities grew 5% month-on-month, from US$347.7 billion in December to US$365.7 billion in January, according to data provider Thomson Reuters' Equity Market Share Reporter.
The growth in trading on Chi-X Japan resulted in a market share increase to 0.7% of overall Japanese equity trading, compared to 0.4% in December. By comparison, the Tokyo Stock Exchange (TSE) accounted for 93.19% market share in January, slightly down on the 93.74% reported in December.
“With Chi-X Japan now trading as much as 5-7% of a number of Japan's most liquid stocks, many investors are now realising significant price improvement,” said Joseph Meyer, representative director of Chi-X Japan. “We are very pleased with the increasing utilisation of our platform by our trading participants and their clients, many of whom are offshore investors increasing their investment in Japan.”
The PTS, which has 12 members trading on its platform, offers trading in 822 stocks listed on the TSE and Osaka Securities Exchange.
“We believe that we are well positioned for continued growth in 2011 given our platform's speed, capacity, pricing and feature and Chi-X Global's experience running marketplaces,” added Tal Cohen, CEO of Chi-X Global. “Additionally, as has been the case in other markets in which Chi-X operates, we are encouraging new trading participants to enter the market, which in turn generates more liquidity and benefits all investors.”