Clients of Fidessa can now link to Kabu, a Japanese cash equities proprietary trading system (PTS) aimed primarily at retail investors, via the FIX protocol using the technology provider’s connectivity network or trading platform.
“As the Japanese equity trading landscape is quickly changing to accommodate a diverse group of execution venues, kabu.com is keen to work with Fidessa to attract liquidity from both on and offshore institutions,” said Yoichi Ishikawa, executive officer, PTS, kabu.com Securities Company.
Kabu.com, owned by Japanese bank Mitsubishi UFJ, provides an auction trading system similar to that of exchanges using liquidity from broker-dealers including Credit Suisse, UBS, Morgan Stanley, Mitsubishi UFJ Securities, BNP Paribas and Nikko Citigroup.
“Japan is seeing the rapid emergence of alternative execution venues including PTSs, broker dark pools and crossing networks. Fidessa is committed to covering all institutional alternative execution venues that emerge in Japan, especially in the context of the launch of arrowhead [new equities trading platform] by the Tokyo Stock Exchange in January 2010, which is expected to stimulate interactions between execution venues and accelerate fragmentation of the Japanese market,” said Hiroshi Matsubara, marketing director for Fidessa in Japan.
Fidessa’s network provides connectivity to more than 2,300 buy-side firms and 400 brokers across 120 markets globally.