Nomura has launched two electronic trading products, Nomura Cross (NX) and SmartDMA, to improve its clients’ equity trading needs in the Japanese market.
Nomura went live with Nomura Cross (NX) in Japan in the third quarter of 2009, for stocks that are tradable on the Tokyo Stock Exchange, Osaka Securities Exchange and Jasdaq Securities Exchange. The company said that NX is its global crossing network, aggregating liquidity across the firm, clients, and trading partners to provide users with execution quality. The NX platform facilitates crossing of institutional order flow including single stock work orders, program trading, electronic trading services and principal trading.
SmartDMA is a new ModelEx strategy in Japan that sweeps NX and other off-exchange trading venues for available liquidity before routing orders to Japan’s primary exchanges. SmartDMA optimises execution quality by sweeping liquidity from dark venues and both sweeping and posting liquidity to lit venues. Advanced Smart Order Routing (SOR) logic, which is the core of the SmartDMA strategy, is a component of Nomura’s execution technology.
Rob Laible, managing director and head of electronic trading services of Asia-Pacific at Nomura, said: “The launch of NX and SmartDMA represent critical steps forward for our Asia-Pacific equities platform and provide compelling reasons to transact with Nomura. We have tremendous order flow that will now be harnessed in one place, at a given point in time, resulting in cost savings from reduced spreads, better performance, and overall lower market impact costs for our clients.”
Ross Whittaker, product manager for NX Asia Pacific, Nomura, said: “We are committed to product innovation and the delivery of solutions that enable our clients to achieve ‘best execution’. The release of these products in Japan illustrates the focus that we are placing upon the ongoing expansion of our electronic trading suite throughout the region.”
