Tokyo Stock Exchange (TSE) and Broadridge Financial Solutions have launched a new direct connection, between TSE’s ETF trading platform, CONNEQTOR, and Broadridge’s EMS, Xilix.
Broadridge’s EMS solution provides a request for quote (RFQ) functionality for institutional investors looking to trade a particular ETF at a particular quantity. Users can send out RFQ’s to a large number of market makers through the offering.
The move is set to enable asset management businesses to reach the ETF trading platform directly from Xilix, allowing for increased efficiency in their processes.
Hiroki Kawai, senior executive officer at TSE, said: “CONNEQTOR was developed as a platform to enable investors to trade ETFs ‘faster and better priced’ and this launch of a direct connection with Xilix, Broadridge’s EMS, will allow institutional investors to trade with even greater convenience.
“We will continue our efforts to further develop an even more highly convenient market environment that enables smoother execution and better pricing for investors.”
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Raymond Tierney, president of Broadridge trading and connectivity solutions highlighted the importance of this move given the complexity of global markets.
“Businesses require solutions that enable automated workflow, capture growth opportunities, integrate seamlessly with internal and external systems, meet regulatory obligations, and streamline operations and we will continue our efforts to solve the issues faced by institutional investors,” he said.