Tokyo Stock Exchange (TSE) and Broadridge Financial Solutions have launched a direct connection between CONNEQTOR, TSE’s platform for trading exchange traded funds (ETFs) and Xilix, Broadridge’s execution management system (EMS).
This direct connection will enable asset management companies to use CONNEQTOR directly from Xilix. Broadridge’s EMS solution allows for Request For Quote (RFQ) functionality enabling institutional investors who want to trade a particular ETF at a particular quantity to send out a request for a quote to a large number of market makers.
TSE senior executive officer Hiroki Kawai said: “CONNEQTOR was developed as a platform to enable investors to trade ETFs ‘faster and better priced’ and this launch of a direct connection with Xilix, Broadridge’s EMS, will allow institutional investors to trade with even greater convenience. We will continue our efforts to further develop an even more highly convenient market environment that enables smoother execution and better pricing for investors.”
Ray Tierney, president, Broadridge trading and connectivity solutions, said: “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 and we will continue our efforts to solve the issues faced by institutional investors.”
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