Chi-X Japan has announced that two local brokers, Yamawa Securities.and Ark Securities, have commenced trading.
That brings the total number of trading participants at Chi-X Japan to 23. Yamawa Securities and Ark Securities will both access its market centre through the Intertrade platform.
In June 2014, Chi-X Japan accounted for 2.2% of turnover in the Nikkei 225 by value and 3.3% by volume. The daily average number of trades done via Chi-X Japan during that month was nearly 90,000.
Yamawa Securities expressed confidence that their joining Chi-X Japan would enable them to benefit from price improvement opportunities. According to Chi-X Japan’s statistics, in June 2014, it accomplished an average price improvement of 5.36 basis points. That price improvement level has remained fairly consistent during the last 12 months.