Chi-X Japan has appointed Makoto Nagahori as the firm’s president and COO. He joined Chi-X Japan in July 2013 as head of sales.
Nagahori previously worked for Nomura Securities, where he held a number of roles, including head of its electronic trading group in Tokyo. Prior to that, he worked for Instinet, working on the sales trading desks in Tokyo and New York.
Chi-X Japan CEO Tal Cohen said that Nagahori’s understanding of retail and institutional investors in Japan would help take Chi-X forwards, in particular in finding new business and growing market share.
Chi-X Japan operates a registered proprietary trading system in Japan where it accounts for approximately 3% of daily stock market turnover.
The firm also announced that Yasuo Hamakake, former CEO and Representative Director, will remain as an advisor to Chi-X Japan in order to pass across his duties.
The company is owned by alternative market operator Chi-X Global Holdings, which in turn is owned by eight major global financial institutions.