The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Trading and exchanges: Instinet challenges TSE

Revenues at Instinet’s Asian business grew by an impressive 50% last year, double the growth in regional trading volumes. The electronic broker has ambitious plans to expand throughout the region this year, opening an office in Singapore, becoming the first remote member of the Australian Stock Exchange, and establishing a partnership in India to offer electronic direct market access. However, it is in its new adopted home of Japan that the broker is making its boldest moves.

Instinet’s JapanCrossing crossing network and CBX dark liquidity pool are at present the only active alternative trading venues to the Tokyo Stock Exchange. JapanCrossing runs scheduled matches several times a day, while CBX is a continuous matching system that runs on the same platform as Chi-X, the pan-European ATS launched by Instinet last year.

Although neither has yet posed a serious threat to the TSE, increasing frustration with the exchange’s technology, which last year suffered embarrassing glitches, has acted as a catalyst, helping to quadruple volumes on JapanCrossing to 2% of the TSE total.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of acces below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£68.33 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree