Asia

Investment bank Nomura has launched its Nomura Cross (NX) crossing network and SmartDMA routing and execution algorithm in Japan.

The Tokyo branch of BNP Paribas Securities (Japan) has replaced its general manager and chief country representative, and made a string of management changes to strengthen controls after the Japanese Financial Services Agency ordered one of its units to stop trading for two weeks.

Buy- and sell-side firms agree that efforts to harmonise equity trading in the Association of South East Asian Nations (ASEAN) will encourage more investment and faster technological evolution in the region, according to the latest study from research firm TABB Group.

The Japan Securities Clearing Corporation (JSCC), the central counterparty for Japan’s stock exchanges, will be able to clear trades from the country’s alternative trading platforms, known as proprietary trading systems (PTSs), from July next year.

While Asia-Pacific lacks an equivalent of Europe’s MiFID or the US’s Regulation ATS, there is still strong impetus for the development of alternative trading venues in the region, according to John Lowrey, CEO of trading platform operator Chi-X Global.

Low-latency data provider ACTIV Financial has teamed with Japanese network and IT infrastructure provider KVH Co to offer high-speed market data dissemination to financial institutions in Japan.

Thomson Reuters has become the first data vendor to offer a direct market data feed from SBI Japannext, a Japanese proprietary trading system (PTS) for equities.

Charles River Development, a trading software provider for investment firms, has opened a regional office in Beijing, China, to better connect with its clients in the region.

Tora Trading, a provider of agency brokerage services and trading technology to the Asian markets, has linked its TORA Compass trading platform to the Tradeweb Routing Network (TRN).

Singapore Exchange plans to introduce changes to its clearing and settlement system on 6 November aimed at reducing non-delivery of securities and imposition of the related penalties.