SBI Japannext, the proprietary trading system (PTS) owned by Japanese financial services firm SBI Holdings and a number of global brokers, has reported record volumes on its platform for July.
The PTS traded ¥536 billion (US$7 billion) last month according to its own figures – which it claims is a monthly record for an alternative venue in Japan – and offered an average price improvement of nine basis points compared to the Tokyo Stock Exchange (TSE).
This gave SBI Japannext a 2.3% market share of Japanese stocks in July, making it the largest PTS for that month. Chi-X Japan, the PTS owned by market operator Chi-X Global, also reported strong volumes last month, while the TSE had a 90.23% share of Japanese stock trading in July.
SBI Japannext also reported a one-day peak on 9 August of ¥58.2 billion (US$746 million), or 2.9% of trading in Japanese stocks, as trading volumes surged due to global market uncertainty. Overall Japanese trading volumes on 9 August topped US$29 billion.
According to Thomson Reuters, total equity trading in Japan reached US$324.3 billion in July, its lowest level so far this year.