Tokyo Stock Exchange (TSE) has successfully launched Tdex+, an electronic options trading platform based on technology from global exchange group NYSE Euronext.
Tdex+ uses LIFFE CONNECT, the same system underpinning NYSE Euronext’s European derivatives exchange, NYSE Liffe. The trading platform will cut order response latency to 6 milliseconds and have the capability of processing 20,000 transactions per second.
Tdex+ was originally scheduled for launch in July, but the go-live date was pushed back to October following delays to the system development process.
From today, TSE has also introduced a market maker scheme for all listed options contracts. This will allow multiple market makers to quote bid and offer prices continuously for options on JGB futures, TOPIX options and equity options.
“Today’s launch of Tdex+ is the first step to further develop the TSE options market. The introduction of the market maker scheme provides investors the opportunity to trade Japanese options contracts in a highly transparent exchange market,” said TSE CEO Atsushi Saito in a statement.
“Technology provides the foundation for future business co-operation between our two organisations, and we are committed to doing our part to deliver significant benefit and value to the TSE and its customers,” added Duncan Niederauer, CEO, NYSE Euronext.