Tokyo Stock Exchange, Inc. (TSE) announced today that the monthly trading value via CONNEQTOR reached a record high of JPY 506.9 billion in January 2026.

TSE launched CONNEQTOR service, an RFQ (Request for Quote) platform, in February 2021 with the aim of improving liquidity in the ETF market.

CONNEQTOR provides services that enable investors to trade ETFs “faster” and “at better prices”.

The increase in trading value has been driven primarily by growth in users beyond investors, including market makers and securities firms. As of the end of January 2026, CONNEQTOR had over 310 investor clients. Originally developed for domestic financial institutions, the service has recently seen growth in overseas investors and non-financial domestic users such as educational institutions.

Currently, investors can execute trades swiftly through 22 brokers at fair prices quoted by 11 market makers in competition with each other. Furthermore, increased connectivity with the system (OMS/EMS and Tradeweb) frequently used by large investors such as asset managers has also positioned CONNEQTOR as an indispensable ETF execution tool for institutional investors.