Virtu Financial Announces Direct Connectivity of Triton Valor EMS to Tokyo Stock Exchange’s CONNEQTOR
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.
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