Japan-based investment bank Nomura has launched its NXT, its connectivity and direct market access (DMA) tool suite for trading US markets.
NXT comprises NXT Direct, a high-volume, low-latency DMA platform, NXT Host, its exchange co-location capabilities and NXT Ring, a connectivity network for markets in Asia, Europe and the US.
NXT is the latest product enhancement in Nomura's build-out of its US electronic and prime services platforms.
NXT Direct includes pre-trade compliance and risk check methodology, and is designed to offer an alternative to unfiltered market access, which was effectively banned by US regulator the Securities and Exchange Commission last week. It is also fully integrated with Nomura's securities lending, clearing and financing capabilities.
“The wire-to-wire latency of our patent pending direct market access platform leads the industry at below three microseconds,” said Emad Morrar, global head of product strategy and principal investments at Nomura. “Clients of our broader equity franchise will also benefit from this platform as we leverage it for our algorithms and smart order routers globally.”
Ciaran O'Kelly, head of equities, Americas at Nomura, added that the launch of NXT, together with cash equities and equity research in the Americas, completed a product suite that includes programs, electronic, convertibles, derivatives, futures and prime services.