Chi-X Japan, the proprietary trading system (PTS) owned by market operator Chi-X Global, has continued its solid start to the year as it battles to become the largest alternative market in Japan.
According to its own figures, Chi-X Japan accounted for 1.62% market share of blue chip index the Nikkei 225 in April 2011, up from 1.2% in the previous month and 1.16% in February. The increase saw Chi-X Japan maintain its position as the largest PTS in the country for the second month in a row, just ahead of SBI Japannext.
The value of trading on the PTS decreased to ¥363 billion in April from ¥440 billion in March. This was indicative of reduced overall Japanese equity trading volumes, from ¥46 trillion in March to ¥29 trillion in April, according to data from Thomson Reuters. Just over 423,000 trades were executed on Chi-X Japan in April, down from the 513,000 trades made in March.
Chi-X Japan has also said it will add remaining constituents of the TOPIX index and exchange-traded funds listed on the Tokyo Stock Exchange by 16 May 2011.