Tokyo Stock Exchange, Inc. (TSE) announces that Phillip Securities Japan, Ltd. has joined the list of brokers to provide connectivity to CONNEQTOR from today. As a result, institutional investors will be able to trade via CONNEQTOR with a total of 11 securities companies.
TSE launched the RFQ (Request For Quote) platform, CONNECTOR, in February 2021 with the aim of improving liquidity in the ETF market. As FX News Group has reported, the Exchange started accepting applications for CONNEQTOR back in October 2020.
CONNEQTOR, which was created to allow institutional investors to trade ETFs “faster and cheaper”, will continue to add functions. The content and timing of these additions will be flexible based on requests from users.
The list of such functions includes, inter alia:
- Limit order function: A function that automatically asks for a trade if the price goes above (below) a specified price.
- English language support: Allows users to complete transactions in English.
Phillip Securities commented:
“With the aim of expanding our ETF business in the Japanese market, we are now looking to supplement our services to institutional investors by providing on top of our existing services for creation/redemption for ETFs on the TSE an ability to purchase ETFs off-screen via CONNEQTOR. We will accept orders for the entire range of ETFs listed on the TSE including bond ETFs and will also be able to take agency orders on behalf of investors over the phone”.
“With our company’s background in providing liquidity for markets in Singapore and other Asian markets we are also happy to provide in addition to the above services, advice for investing in Asian ETFs. We look forward to serving you as new broker on this platform,” the company added.