Toyo Securities, an independent securities company headquartered in Tokyo, has selected Fidessa as its new wholesale agency trading system.

Fidessa says the fully-managed nature of its service and its trading capabilities enable clients to keep up to speed with the changing trading rules and systems at different exchanges while also minimising IT costs and increasing efficiency.

" have extensive experience with Japanese securities firms. With the new system we will further improve our algorithmic trading service, especially our direct strategy access (DSA) offering. We continue to strive to meet the diverse needs of our users by providing faster and more accurate trading services," said Wataru Sato, trading section manager for the corporate department at Toyo Securities. 

Increased liquidity in equity markets as a result of global monetary-easing policies, as well as a push by Abenomics, has driven the Japanese equity market's trading value to its highest level since the 2008 financial crisis, according to Fidessa.

Algorithmic trading, proprietary trading systems (PTSs) and dark pools are now widely used by Japanese domestic buy-side traders. 

With the upgrade of the Tokyo Stock Exchange's low-latency trading system 'arrowhead' scheduled for September, the technology provider says that demands for more sophisticated data processing capabilities from local firms are on the increase.

"With our extensive market coverage and network of buy-side and sell-side firms around the world, Fidessa will be able to further strengthen Toyo's new business endeavours with new and existing clients," said Ian Chilton, chief executive of Fidessa in Japan.

Fidessa's agency trading platform is currently used by six of the top eight domestic brokers in Japan, as well as by many of the country's mid-tier brokers.