Tokyo Stock Exchange, Inc. (TSE) and Broadridge Trading and Connectivity Solutions Japan K. K today announced the start of providing direct connection between CONNEQTOR, a platform for trading Exchange Traded Funds (ETFs), and Xilix, an execution management system (EMS).

The launch of this direct connection enables asset management companies that are users of Xilix, such as Sumitomo Mitsui DS Asset Management Co., Ltd., to use CONNEQTOR directly from Xilix and provides more advanced and efficient management.

With the launch of this direct connection with Xilix, order data entered into XIlix by traders can be directly to CONNEQTOR, enabling traders to execute trades quickly and reliably with market makers around the world on CONNEQTOR. As a result, ETF trading costs will be reduced and the time required for trading will also be shortened, which is expected to contribute to operational efficiency at asset management firms and others.

Raymond Tierney, President, Broadridge Trading and Connectivity Solutions, commented:

“We are thrilled to strengthen our partnership with Tokyo Stock Exchange and jointly deliver our Xilix platform for trading ETFs using CONNEQTOR.

In today’s complex 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. Broadridge’s EMS solution empowers firms to navigate these challenges successfully by allowing RFQ functionality that enables institutional investors who want to trade a particular ETF at a particular quantity, etc., to send out a request for a quote to a large number of market makers”.

CONNEQTOR is a Request For Quote (RFQ) platform launched by TSE in February 2021 with the aim of making “ETFs faster and better priced” in Japan. Through this platform, users can trade ETFs flexibly and inexpensively by requesting simultaneous quotes from market makers around the world, including specialized firms in the U.S. market, and trading at the best price among the real-time prices quoted there.