The Tokyo Stock Exchange (TSE) has launched ‘arrowhead’, the new equity/CB trading system, to increase speed to revive its business and reputation, reported Reuters. The aim is to draw more business from hedge funds and other professional investors, who increasingly rely on automated trading strategies.
Reportedly, ‘arrowhead’, designed by Fujitsu to handle 46 million orders a day, runs on about 200 servers and processes trades in 5 milliseconds, compared with 2 to 3 seconds previously.
Neil Katkov, head of Asia research at Celent, a financial services consultancy, said: “I think it has the potential to significantly reshape trading in not just Japan, but Asia. There is the possibility the exchange will attract a lot more trading, new types of trading, and attention from new types of investors — in particular, hedge funds,” reported the news agency.
