Virtu Financial Announces Direct Connectivity of Triton Valor EMS to Tokyo Stock Exchange’s CONNEQTOR
Virtu Financial (NASDAQ: VIRT) has announced that its Triton Valor execution management system (EMS) has established direct connectivity to CONNEQTOR, Tokyo Stock Exchange's (TSE) platform for trading exchange traded funds (ETFs). This integration allows investors to access real-time and deep ETF liquidity on the TSE.
Triton is a global, multi-asset EMS that supports trading across various asset classes and brokers. The connection to CONNEQTOR was added in response to client requests for access to new, innovative liquidity sources for ETF trading. TSE developed CONNEQTOR to facilitate large-scale transactions that were challenging to complete in auction sessions.
Virtu Financial (NASDAQ: VIRT) ha annunciato che il suo sistema di gestione dell'esecuzione Triton Valor (EMS) ha stabilito connessione diretta a CONNEQTOR, la piattaforma della Borsa di Tokyo (TSE) per il trading di fondi negoziati in borsa (ETF). Questa integrazione consente agli investitori di accedere a liquidità ETF in tempo reale e profonda sulla TSE.
Triton è un EMS globale e multi-asset che supporta il trading attraverso diverse classi di attivi e broker. La connessione a CONNEQTOR è stata aggiunta in risposta alle richieste dei clienti di accedere a nuove fonti di liquidità innovative per il trading di ETF. La TSE ha sviluppato CONNEQTOR per facilitare transazioni di grande entità che erano difficili da completare nelle sessioni d'asta.
Virtu Financial (NASDAQ: VIRT) ha anunciado que su sistema de gestión de ejecución Triton Valor (EMS) ha establecido conectividad directa con CONNEQTOR, la plataforma de la Bolsa de Tokio (TSE) para negociar fondos cotizados en bolsa (ETF). Esta integración permite a los inversores acceder a liquidez de ETF en tiempo real y profunda en la TSE.
Triton es un EMS global y multi-activo que admite negociaciones a través de diversas clases de activos y corredores. La conexión con CONNEQTOR se agregó en respuesta a las solicitudes de los clientes para acceder a nuevas fuentes de liquidez innovadoras para la negociación de ETF. La TSE desarrolló CONNEQTOR para facilitar transacciones a gran escala que eran difíciles de completar en sesiones de subasta.
Virtu Financial (NASDAQ: VIRT)는 자사의 트리톤 발러 실행 관리 시스템 (EMS)이 도쿄 증권 거래소 (TSE)의 상장지수펀드 (ETF) 거래 플랫폼인 CONNEQTOR에 직접 연결되었다고 발표했습니다. 이 통합을 통해 투자자는 TSE에서 실시간으로 깊은 ETF 유동성에 접근할 수 있게 됩니다.
트리톤은 다양한 자산 클래스와 브로커를 통한 거래를 지원하는 글로벌 다중 자산 EMS입니다. CONNEQTOR와의 연결은 ETF 거래를 위한 새로운 혁신적인 유동성 원천에 대한 고객 요청에 따라 추가되었습니다. TSE는 경매 세션에서 완료하기 어려운 대규모 거래를 용이하게 하기 위해 CONNEQTOR를 개발했습니다.
Virtu Financial (NASDAQ: VIRT) a annoncé que son système de gestion d'exécution Triton Valor (EMS) a établi une connectivité directe avec CONNEQTOR, la plateforme de la Bourse de Tokyo (TSE) pour la négociation de fonds négociés en bourse (ETF). Cette intégration permet aux investisseurs d'accéder à une liquidité ETF en temps réel et en profondeur sur la TSE.
Triton est un EMS mondial multi-actifs qui soutient le trading sur diverses classes d'actifs et courtiers. La connexion à CONNEQTOR a été ajoutée en réponse aux demandes des clients pour accéder à de nouvelles sources de liquidité innovantes pour le trading d'ETF. La TSE a développé CONNEQTOR pour faciliter les transactions à grande échelle qui étaient difficiles à réaliser lors des sessions d'enchères.
Virtu Financial (NASDAQ: VIRT) hat angekündigt, dass sein Ausführungsmanagementsystem Triton Valor (EMS) eine direkte Verbindung zu CONNEQTOR, der Plattform der Tokyo Stock Exchange (TSE) für den Handel mit börsennotierten Fonds (ETFs), hergestellt hat. Diese Integration ermöglicht es Investoren, in Echtzeit auf tiefgehende ETF-Liquidität an der TSE zuzugreifen.
Triton ist ein globales Multi-Asset-EMS, das den Handel über verschiedene Anlageklassen und Broker unterstützt. Die Verbindung zu CONNEQTOR wurde als Reaktion auf Kundenanfragen nach Zugang zu neuen, innovativen Liquiditätsquellen für den ETF-Handel hinzugefügt. Die TSE entwickelte CONNEQTOR, um großangelegte Transaktionen zu erleichtern, die in Auktionseinheiten schwierig abzuwickeln waren.
- Direct connectivity to Tokyo Stock Exchange's CONNEQTOR platform for ETF trading
- Expansion of Triton Valor EMS capabilities in response to client demands
- Enhanced access to real-time and deep ETF liquidity for investors
- None.
Insights
The direct connectivity between Virtu's Triton Valor EMS and TSE's CONNEQTOR platform marks a significant advancement in ETF trading infrastructure. This integration enhances liquidity access and trading efficiency for institutional investors in the Japanese ETF market. The move aligns with the global trend towards more sophisticated, electronic trading solutions for ETFs.
From a technological standpoint, this connectivity likely involves complex API integrations and data synchronization to ensure real-time pricing and execution. The ability to handle large-scale transactions that were previously challenging in auction sessions demonstrates the platform's robustness and scalability. This development could potentially lead to increased trading volumes and improved price discovery in the Japanese ETF market.
For Virtu Financial, this enhancement to their Triton Valor EMS strengthens their competitive position in the Asian markets and could attract more institutional clients looking for advanced ETF trading capabilities. However, the impact on Virtu's revenue stream may be gradual, as adoption and integration of new trading protocols often take time to fully materialize.
The connection between Virtu's Triton Valor EMS and TSE's CONNEQTOR represents a notable evolution in market structure for Japanese ETFs. By facilitating large-scale transactions outside of traditional auction sessions, this development addresses a important liquidity need for institutional investors. It's a strategic move that could potentially increase market depth and reduce trading costs for large ETF orders.
This initiative aligns with global trends towards more flexible and efficient trading mechanisms for ETFs, which have seen rapid growth in recent years. The RFQ (Request for Quote) functionality offered by CONNEQTOR is particularly valuable for institutional traders seeking to minimize market impact when executing large orders.
For the Tokyo Stock Exchange, this partnership with a major global financial technology provider like Virtu could help attract more international investors to the Japanese ETF market. It may also spur competition among other exchanges and trading platforms to enhance their ETF trading offerings, potentially leading to further innovations in the space.
The integration of Virtu's Triton Valor EMS with TSE's CONNEQTOR platform is a positive development for institutional investors active in Japanese ETFs. This enhanced connectivity offers several strategic advantages:
- Improved liquidity access, potentially leading to better execution prices and reduced trading costs
- Enhanced ability to execute large trades with minimal market impact
- Streamlined workflow for traders, integrating ETF trading with other asset classes on a single platform
From an investment perspective, this development could make Japanese ETFs more attractive to global institutional investors, potentially leading to increased capital flows into these products. The ability to execute large trades more efficiently could also enable more sophisticated ETF-based strategies, such as factor investing or thematic portfolios, in the Japanese market.
However, investors should note that while improved trading infrastructure is beneficial, it doesn't directly impact the underlying performance of ETFs or the broader market. The ultimate value of this development will depend on how effectively traders utilize these new capabilities to enhance their investment strategies.
NEW YORK, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NASDAQ: VIRT), a leading provider of global, multi-asset financial services that delivers liquidity and innovative, transparent products across the complete investment cycle to the global markets, today announced that Virtu’s Triton Valor execution management system (EMS) has established direct connectivity to CONNEQTOR, Tokyo Stock Exchange’s (TSE) platform for trading exchange traded funds (ETFs).
Triton is a global, multi-asset execution management system for trading equities, ETFs, futures, options, FX and fixed income across 700+ brokers and venues for all types of flow–Care, PT, DMA, Algos, RFS and RFQs. Triton is designed around the needs of today’s active trader and provides technology to assist traders in achieving their objectives throughout the lifecycle of a trade.
The Tokyo Stock Exchange developed its CONNEQTOR RFQ platform as an extension of its ETF offering to allow investors to trade large-scale transactions that were difficult to complete in the auction sessions.
Steve Cavoli, Global Head of Execution Services at Virtu Financial, commented, “A growing number of clients trading Japanese ETFs rely on Virtu’s global, broker neutral, multi-asset EMS for liquidity sourcing, execution analytics, and workflow solutions for their trading desks. We added TSE’s CONNEQTOR protocol in response to our clients’ requests for access to new, innovative liquidity sources for their ETF trading.”
"CONNEQTOR was developed as a platform for investors, which will allow institutional investors to trade ETFs faster and more efficiently. Connection with Virtu’s Triton EMS allows more investors to access real-time and deep ETF liquidity," said Hiroki Kawai, Senior Executive Officer, TSE.
About Virtu Financial, Inc.
Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrency and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre-, intra-, and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.
About CONNEQTOR
CONNEQTOR is the TSE’s request-for-quote (RFQ) platform which enables investors to trade ETFs. Since its launch in February 2021, CONNEQTOR has aimed to improve the speed of ETF trading in Japan, allowing investors to trade at real-time best price quoted, while reducing transaction costs and improving operational efficiency. CONNEQTOR is used by more than 250 institutional investors, and they can trade ETFs by requesting simultaneous quotes from market makers around the world, without having counter party risks. As of July 2024, its monthly trading value reached a record high of 295.5 billion JPY (average daily trading value exceeds 13.4 billion JPY) and is still growing.
About Tokyo Stock Exchange, Inc. (TSE)
Tokyo Stock Exchange, Inc. (TSE) is a subsidiary of Japan Exchange Group (JPX) and licensed financial instruments exchange in Japan, which is engaged in the provision of market facilities for trading of securities, publication of stock prices and quotations, ensuring fair trading of securities and other financial instruments. As one of the leading exchanges not only in the Asian region but also in the world, the recent average daily trading value of the TSE prime market has exceeded approximately 5.2 trillion JPY. Its ETF market also boasts high liquidity, with average trading value exceeding 311.1 billion JPY. In the course of working together as an exchange group, JPX offers a comprehensive range of services including Index Service, Derivatives, Commodity, and Clearing House.
Website(https://www.jpx.co.jp/english/)
Contact:
Investor Relations and Media Relations
Andrew Smith
investor_relations@virtu.com
media@virtu.com
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