Tokyo Stock Exchange, Inc. (TSE) has been developing RFQ (Request for Quote) functions and CONNEQTOR with the aim of improving the liquidity of ETFs. As FX News Group has reported, the Exchange started accepting applications for CONNEQTOR back in October 2020.

Today, TSE announced that CONNEQTOR’s development has been successfully completed and CONNEQTOR will go live on February 1, 2021.

CONNEQTOR, which was created to allow institutional investors to trade ETFs “faster and cheaper”, will continue to add functions. The content and timing of these additions will be flexible based on requests from users.

The list of such functions includes, inter alia:

  • Limit order function: A function that automatically asks for a trade if the price goes above (below) a specified price.
  • English language support: Allows users to complete transactions in English.

The following securities companies are scheduled to provide services to investors from the first day of operations: SMBC Nikko Securities Inc., Goldman Sachs Japan Co.,Ltd., JPMorgan Securities Japan Co.,Ltd., Daiwa Securities Co. Ltd., Nomura Securities Co.,Ltd. and Mitsubishi UFJ Morgan Stanley Securities.

Institutional investors will be able to select a brokerage firm of their choice by asking the brokerage firm to determine the brokerage firm and account information.