TradingScreen, a provider of execution management systems (EMSs) to the buy-side, has launched a direct connection to CBX Asia, an alternative trading system for Japanese and Hong Kong equities operated by agency broker Instinet.
The buy-side will be able to access CBX Asia through TradingScreen’s range of execution management interfaces: TradeSmart, TradeExcel and TradeFIX. The TradingScreen EMS platform provides trade execution and settlement tracking for institutional traders in more than 100 countries, representing more than 250 equity and equity derivatives trading venues around the world, including systematic internalisers, crossing networks, grey pools and MTFs.
CBX Asia is a real-time, low-latency central limit order book with traditional price/time priority for trading Japanese and Hong Kong equities. Unlike its US incarnation, which is a dark pool, CBX Asia is a displayed platform. Fully-hidden orders are prohibited under securities laws in certain Asian jurisdictions.
“As the Asian marketplace continues to see an increasing number of liquidity venues, buy-side traders are looking more than ever to access all this liquidity consistently and efficiently”, said Bernard Ho, TradingScreen’s head of Asia Pacific and Japan, in a statement.
Instinet launched CBX Asia in Japan in 2001, and added Hong Kong equities to the platform in January 2009.