TSE approves seven brokers to use CONNEQTOR platform

The TSE (Tokyo Stock Exchange) on Friday (20 November) announced it has approved seven securities firms to use its new CONNEQTOR platform.

CONNEQTOR enables institutional investors who want to trade a particular ETF at a particular quantity to send an RFQ (request for quote) to market makers. The RFQ function and new platform were developed to improve ETF liquidity and provide further convenience to investors.

Earlier this month, the TSE invited applications from firms wishing to use CONNEQTOR from the first day of operations. The seven securities firms allowed to provide services to investors from the first day of operations are SMBC Nikko Securities, Goldman Sachs Japan, JPMorgan Securities Japan, Daiwa Securities, Nomura Securities, Marusan Securities and Mitsubishi UFJ Morgan Stanley Securities.

Institutional investors that wish to submit RFQs to market makers need to register for a CONNEQTOR ID, register with an approved securities firm, and register for the live use of CONNEQTOR.

The official launch date of CONNEQTOR will be announced at a later date. Initially the launch was scheduled for December 2020, but this has since been moved to 2021.