Nomura has full coverage of Asia Pacific developed and emerging markets on an agency and principal basis, as well as exchange memberships in most countries. Extensive execution consulting services utilising tools like TradeSpex cover trade construction, optimisation, pre- and posttrade analysis. The firm also has custom market impact models that measure quantitatively the expected market impact of various trading strategies. The execution consultation team provides bespoke in-depth execution review of historic trades.
Nomura program trading accesses all Nomura’s internal flow via its dark pool, NX in Japan and Hong Kong, and also goes out to alternative venues where appropriate. The firm has deployed NXPro in Japan (rest of the region to follow shortly) which allows automated cross discovery at the parent level.
Nomura’s client base covers the full spectrum of asset managers and the firm executes across a broad range of benchmarks and styles, from simple volumeweighted average price to more complicated implementation shortfall strategies with balancing constraints.
Pre- and post-trade analytics
Nomura’s TradeSpex is a full service, user friendly, web-based, analytics package. It analyses trades utilising proprietary models to estimate impact costs across different strategies. All aspects of the trade can be looked at, whether average daily volume, impact, country, sector and factor sensitivity. Nomura uses TradeSpex for pre- and posttrade analysis and intra-day monitoring. Clients can also access TradeSpex directly.
Nomura plans continued investment in the platform from an execution-order management system as well as an analytical and algorithmic perspective.