Japanese broker Nissan Century Securities has chosen a trading platform from technology provider Fidessa to begin trading Japanese cash equities.
Nissan Century Securities is a derivatives trading specialist and the only Japanese broker that offers access to the country's four major exchanges – the Tokyo Stock Exchange (TSE), Osaka Stock Exchange, Tokyo Commodity Exchange and Tokyo Grain Exchange – as a clearing member/participant. Retail and institutional clients send orders to Nissan Century Securities for more than one million derivatives contracts per month.
The firm is now starting a new service for cash equities using Fidessa’s Japanese trading platform, which is fully managed and is designed for multi-asset trading. The platform offers algorithmic trading tools and smart order routing technology.
“The dramatically improved speeds of execution offered by the TSE’s arrowhead system have influenced off-shore prop firms, who have been trading mainly derivatives, to shift their interest to cash equities,” said Tomoaki Hirao, executive officer and head of global sales and derivative planning at Nissan Century Securities. “Our main aim for supporting domestic cash equity trading is to attract new off-shore customers to trade Japanese markets. To build up such a new business line in a short period of time, Fidessa’s integrated global network and technology which fully supports Japan specific regulations and compliance requirements was the best fit.”
Tatsuya Yamada, deputy director and executive officer of product planning at Nissan Century Securities, added that the firm intends to start offering direct market access services to non-member firms in the near future.
“To provide an environment where clients can trade with lower costs, Fidessa is going to be an ideal system with its comprehensive global connectivity and high-speed trading technology – including algorithmic trading- as a ready to use packaged solution,” he said.