FiNETIK – Asia and Latin America – Market News Network

Asia and Latin America News Network focusing on Financial Markets, Energy, Environment, Commodity and Risk, Trading and Data Management

SMX To List TOCOM Products

Singapore Mercantile Exchange (SMX), the first pan-Asian multi-product commodity and currency derivatives exchange, and the Tokyo Commodity Exchange, Inc. (TOCOM), Japan’s leading commodity futures exchange, today announced that they have signed a licensing agreement for SMX to list Contracts* on TOCOM products.

Building upon the Memorandum of Understanding (MoU) signed on 23 April 2010 to explore mutually beneficial partnerships, senior officials from both exchanges signed a licensing agreement which would see the listing of several SMX TOCOM Contracts for products already being traded on TOCOM. These include crude oil, gasoline, kerosene and gas oil. The agreement does not rule out the possibility of cross-listing wherein TOCOM might also list SMX products.

Agreement terms include the license for SMX to use TOCOM prices as the last settlement price, delivery price, reference price and daily settlement price and/or final settlement price for SMX TOCOM Contracts.

Mr. Thomas McMahon, Chief Executive Officer of SMX, said: “This agreement is exciting for us for several reasons. Aside from augmenting our initial MoU and being able to roll-out contracts the markets are already familiar with, our foremost aim to develop a credible pan-Asian platform is being achieved at good speed. We are encouraged by TOCOM’s enthusiasm and foresight for a united Asian derivatives marketplace, and will be announcing more of such developments in the coming months. We must embrace exchange partnerships as crucial steps to reducing fragmentation of derivatives trading during Asian business hours.”

Mr. Tadashi Ezaki, President and Chief Executive Officer of TOCOM, said: “SMX is the up-and-coming derivatives exchange in Asia, which commenced trading in August this year and grows rapidly with an increasing range of listed products. We expect that licensing SMX to use TOCOM prices for their new products to be listed shall help increase arbitrage between TOCOM and SMX increase, and accordingly enhance the convenience of the markets. We continue to work together with SMX to further develop derivatives trading in Asia.”

The listed commodities currently trading on TOCOM include futures and options contracts for gold, and futures contracts for silver, platinum, palladium, gasoline, kerosene, gas oil, crude oil, rubber and Nikkei-TOCOM Commodity Index. SMX launched live trading on 31 August 2010 with four products consisting of Futures Contracts on crude oil benchmarks Brent Crude Oil priced in Euros and West Texas Intermediate Crude Oil, Gold with physical delivery-based settlement and Euro-US Dollar Currency Futures.

In August 2010, market leaders in low latency services in Japan and Singapore – KVH Co., Ltd. (KVH) and Singapore Telecommunications (SingTel) respectively announced provision of KVH-SingTel?s low latency network solutions to market participants, enabling both exchanges to facilitate an ultra low latency and fully redundant network service between Japan and Singapore.

* Subject to regulatory approval by the Monetary Authority of Singapore (MAS)

Source:MondoVisione 15.10.2010



Filed under: Exchanges, Japan, News, Singapore, , , , , , , , , , , ,

Japan:TSE and TOCOM to set up Carbon Trading Joint Venture

Tokyo Stock Exchange Group, Inc. (TSE Group) and Tokyo Commodity Exchange, Inc. (Tocom) reached an agreement to establish a joint venture in the future.

The objective of the new company will be to set up an emissions trading exchange, in order to contribute to the reduction of greenhouse gases and facilitate emissions trading. Both parties had already signed a Memorandum of Understanding (MOU) on comprehensive mutual cooperation in January 2008.

In a bid to stop global warming, worldwide efforts are being made to reduce greenhouse gases. In Japan, achieving numerical targets agreed in the Kyoto Protocol and drafting post-Kyoto mid-term targets have become an important policy issue. In addition, the “experimental introduction of an integrated domestic market for emissions trading” began last autumn.

In light of this situation, while an expansion of emissions trading is foreseen in the future, the recent financial crisis has led to the re-acknowledgement of the importance of the features of an exchange such as high levels of liquidity and transparency as well as stable and reliable settlement.

Under such circumstances, the TSE Group and TOCOM concur that it is necessary to take concrete steps toward the establishment of an emissions trading exchange. The two parties have vast experience and expertise on forming effective markets and large participant bases in the course of operating their respective securities and commodities exchanges over the years. They agree that it is their social responsibility to jointly apply such knowledge and experience to the establishment of an emissions trading exchange.

In addition, both parties will work together to consider the design and rules for the emissions trading exchange. Last year, the Tokyo Stock Exchange (TSE), a market operator wholly-owned by the TSE Group, set up the “TSE Carbon Market Study Group” to examine practical issues required to establish a carbon market exchange with experts on emissions trading. The study group is scheduled to be re-launched soon as a study group jointly operated by both TSE and TOCOM. It will be a venue for discussions and examinations in more detail.

The joint venture company is also expected to gather opinions from concerned parties for carrying out studies in a wide ranging field related to emissions trading.

Source: Tokyo Stock Exchange, 29.10.2009

Filed under: Asia, Energy & Environment, Exchanges, Japan, News, , , , , , , , , ,

MetaBit opens Dalian, China based Offshore Development Centre / メタビット、大連(中国)に開発センターを開設

Tokyo, Dalian, 20 October 2009 – MetaBit announces the opening of a dedicated offshore development centre in Dalian, China.  Staffing and line management have been outsourced to Tiger Stone International, Dalian Branch, a subsidiary of Tokyo based Tiger Stone International Co., Ltd. (TSI).  TSI is a specialist solution provider that services Japan’s financial industry with China based offshore development, and also offers a proprietary product line in the area of algorithmic trading and risk management.

The new dedicated development team managed by Tiger Stone International will focus on providing MetaBit with additional development capacity for rapid expansion of their intuitive XiliX trading platform and ALPHA low-latency FIX exchange gateways to Asian markets.

“After careful evaluation of several options for offshore development, MetaBit has selected Tiger Stone International in Dalian, China to be the responsible party to offer us their services.  Of particular importance in the selection was our confidence in Tiger Stone International’s trusted leadership and professional skill set,” comments Daniel Burgin, MetaBit CEO who continues, “Cost effective labor is still plentiful in Asia, but eventual success, efficiency and longevity of offshore development are built on trust and the quality of local management to represent our interests.  TSI offered low cost development in China, trusted leadership, and extensive technical and business experience in the financial industry, proving a compelling solution.  This new partnership represents an important milestone in MetaBit’s strategic expansion in Japan and Asia.”

John Edwards, MetaBit CTO explains, “Sydney will remain the core development centre of MetaBit and will continue to grow, albeit at a slower rate than in 2008/2009.  Jointly with Tiger Stone we have established an extensive know-how and training program to create an efficient and solid China based development centre.”

Huyan Song, Tiger Stone International CEO ,was born and educated in Mainland China and has spent his working career in Japan’s financial industry, gaining specialist expertise in the FIX Protocol, risk management and algorithmic trading solutions.

Song comments, “Tiger Stone delivers a dual service to the financial industry; the combination of providing offshore services, and licensing our own product line which focuses on algorithmic trading and risk management solutions for buy and sell side clients.  Due to our industry expertise, we employ skilled labor that is bilingual Chinese/English or Chinese/Japanese.  We have had a successful partnership with MetaBit since 2008, with focus on product synergies.  Today, I am pleased that the relationship has expanded to leverage Tiger Stone’s offshore development services.  As of October, an initial six of our Dalian based staff have been dedicated to MetaBit, and are currently undergoing an extensive training program to familiarize themselves with MetaBit’s technology and products.  Tiger Stone’s own product line of algorithmic trading and risk management is tailored for mid-tier securities firms that face the need to offer such services to institutional buy sides, but suffer from lack of internal resources and expertise.”


タイガーストーンインターナショナルによって新しくメタビットの開発に従事するチームは、メタビットの直観的トレーディング・プラットフォームXiliX(ザイリクス)および低レイテンシーFIX取引所ゲートウェーAlpha (アルファ)のアジア市場での急速な拡大に必要な開発力を補助することになります。

メタビットCEOダニエル・ブルギン氏は、「オフショア開発の様々な選択肢を入念に評価した結果、メタビットはタイガーストーンインターナショナルの大連支社にサービスを提供していただくことを決定いたしました。決定に際し特に重視した点は、タイガーストーンインターナショナルの信頼あるリーダーシップとプロフェッショナルな技術力にありました。また、アジア地域における低コストの労働力は数多く存在しますが、最終的に成功と効率性をもたらし長期的にオフショア開発を行うには信頼と我々に代わって取り仕切る現地管理の質の上に成り立つものです。TSIは中国において 低コストでサービスを提供しつつ信頼のあるリーダーシップ、豊富な技術力と金融機関での実績があり、決定にいたりました。この新たなパートナーシップはメタビットの日本とアジアにおける戦略的市場拡大の重要かつ画期的な出来事であることを表しています。」と述べています。




Source: MetaBit, 20.10.2009メタビット

Filed under: China, FIX Connectivity, Japan, News, Trading Technology, , , , , , , , , , , , , , , , , ,

Tokyo Commodity Exchange Endorses Equinix as a Preferred data Centre Co-Lo Provider

Equinix is to offer high performance colocation and low-latency connectivity solutions to Tokyo Commodity Exchange (TOCOM) market participants through Equinix’s two Tokyo International Business Exchange (IBX) data centres. TOCOM market participants will be able to colocate their electronic trading data infrastructure in close proximity to the vibrant financial community within Equinix’s network-neutral centres.

Equinix’s TY1 and TY2 IBX centres, located in Heiwajima and Shinagawa respectively, offer premium data centre infrastructure for achieving the security and resilience demanded by high-availability execution venues. Within both centres, TOCOM will have a direct connection to Equinix Financial eXchange service’s established community of execution venues, buy and sell side firms, market data providers and technology utilities, that have located at Equinix’s high performance data centres to access the widest choice of low-latency networks and to directly exchange data with strategic partners and customers in close proximity. The high quality, advanced design of the TY1 and TY2 centres offers financial customers a full range of scalable services, including colocation, interconnection, support and monitoring.

“We are delighted to welcome Equinix as one of TOCOM’s preferred colocation providers,” said Masaaki Nangaku, president and CEO of TOCOM. “As one of the world’s leading commodity exchanges, TOCOM recognizes the needs of our international trading community. Equinix’s leading expertise with the global financial marketplace ideally complements our goal of providing world-class trading functionality to the international marketplace. Equinix’s global footprint, commitment to the Asia-Pacific region, and relentless pursuit of the best network providers for the financial industry, offers a new choice for our market participants who are seeking a reliable, low-latency and network rich environment with close proximity to strategic partners.”

Source: A-Team 11.06.2009

“TOCOM is transforming into an international commodity market by expanding trading services,” said David Wilkinson, Representative Director of Equinix in Japan. “With presence in all of the top ten world financial centres, the global reach of Equinix Financial eXchange affirms such view with reliable, fast and seamless access via low-cost connectivity to execution venues around the world. Featuring industry-leading uptime, best-in-breed connectivity capabilities and ultra low-latency, we help pioneers like TOCOM achieve and build a lasting competitive advantage.”

Filed under: Asia, Exchanges, FIX Connectivity, Japan, Trading Technology, , , , , , , , , , , ,

Japan:KVH and COLT to Strengthen Partnership in Financial Trading System Solutions – Enhancing Global Capabilities to Address Low Latency Trading Needs-

Tokyo, June 4th, 2009 –KVH Co. Ltd. (headquartered in Minato-ku, Tokyo, President and CEO: Suzuki Miyuki, hereinafter referred to as “KVH”) and COLT Telecom Group SA (headquartered in London, CEO: Rakesh Bhasin, hereinafter referred to as “COLT”) will strengthen their partnership in supporting electronic trading applications for the global financial and securities industry. KVH and COLT are market leaders in providing ultra low latency connectivity and proximity hosting in Europe and Japan respectively. Through this partnership, they will be able to provide customers with low latency connectivity to trading venues and in major financial markets in Europe, US and Asia, with a joint low latency networking and proximity hosting offers.

Demand for low latency connectivity has increased rapidly with the adoption of new algorithmic trading systems as well as globalization amongst financial and securities markets. To meet this market demand promptly and flexibly, both companies will enhance their proximity services on a global scale using expertise and knowhow acquired through serving the telecommunication needs of financial markets.  In addition, KVH will provide facilitation services to support for remote membership and communication to and from the exchanges on behalf of foreign institutional investors, who are entering the Japan market for the first time.

COLT has been offering low latency proximity services in Europe since 2007. COLT is presently connected to over 25 major exchanges and Multi-lateral Trading Facilities (MTFs), including Deutsche Börse, SIX (formerly SWX), Chi-X, Turquoise, and BATs. and is hosting seven such exchange systems in its own data centers. Earlier this year COLT also extended its low latency Ethernet network coverage to the United States.  KVH launched its proximity service in 2008 using its Tokyo Data Center as a hub based on experience in network connections with Tokyo Stock Exchange and Osaka Securities Exchange. Moreover, KVH Tokyo Data Center has been endorsed by Tokyo Commodity Exchange (TOCOM) and Tokyo Financial Exchange (TFX) as their access points and proximity hosting provider as of last year. KVH proximity hosting services also started for TOCOM in May and will be available for TFX as well within the year.  Between the two companies, low latency connectivity and proximity hosting services with full end-to-end service management are now available in the world’s key financial centers including London, New York, Tokyo, Frankfurt, Chicago, and Paris.

“Through the partnership, COLT and KVH will be able to cover key financial markets in Europe, the U.S., Japan and other Asia-Pacific regions, where major exchanges are located. Going forward, together with KVH, we will support U.S. and European institutional investors as they enter the Asian market,” noted Mr. Detlef Spang, Managing Director for the Major Enterprise Division of COLT.  “Despite the global financial crisis continuing, the need for high speed electronic trading continues to increase. Low latency networking has therefore become an extremely important competitive parameter in the global financial industry.  In partnership with COLT, KVH hopes to accelerate low-latency trading and help increase liquidity in the market,” noted Ms. Miyuki Suzuki, President and CEO of KVH.

Endorsement from Tokyo Commodity Exchange, Inc.
Mr. Masaaki Nangaku, President & CEO
The Tokyo Commodity Exchange has decided to adopt KVH’s proximity services with the launch of the new trading system in May of 2009.  By having both Japan and foreign-based trading members use KVH’s high quality, low latency networks and robust data center services, we hope to reinvigorate trading and further improve reliability.  In addition, we hope that the collaboration of KVH and COLT will help support our endeavors globally to establish a strong foothold as a core derivative exchange in Asia.

Source: KHV, 04.06.2009

Filed under: Asia, Japan, News, Trading Technology, , , , , , , , , , , ,

Tokyo Commodity Exchange’s Response To New Influenza

At Tokyo Commodity Exchange Inc. (TOCOM or “the Exchange”) , Risk Management Committee has decided earlier this month to formulate an action plan in response to the occurrence and spread of the new influenza along with the government’s announcement based on its “New Influenza Response Plan”.

According to its own action plan, the Exchange has been implementing the collection of the latest information on infections, heads-up to the employees, cancellation of some of the overseas business travels. With regard to the trading session, however, TOCOM intends to maintain its normal operation. At present TOCOM does not plan to suspend the trading session, as some reported earlier today.

Source: MondoVisione, 18.05.2009

Filed under: Exchanges, Japan, Risk Management, , , , , ,

Tokyo Commodity Exchange Launches Trading System from NASDAQ OMX

Tokyo Commodity Exchange Inc. (TOCOM) announced that TOCOM has gone live with a new trading system based on the trading and clearing platforms provided by The NASDAQ OMX Group. TOCOM is NASDAQ OMX’s first Japanese customer to operate one of its systems. NTT Data Corporation made a significant contribution to this project as a system integrator.

Source: TOCOM, 11.05.2009

Filed under: Exchanges, FIX Connectivity, Japan, Trading Technology, , , , , , ,

MetaBit offers low latency FIX connectivity for TSE’s Remote Trading Participants – メタビット、東証「リモート取引参加者」へ高速FIX接続を提供

Tokyo, 12 November 2008 – MetaBit confirms its high performance, low latency FIX exchange connectivity solution is suitable for Tokyo Stock Exchange (TSE)’s recently announced co-location services for offshore trading firms, that will request direct participation in Japan’s largest exchange. メタビットは自社のローレインテンシー、ハイパフォーマンス取引所FIX接続ソリューションが東京証券取引所(東証)のオフショアトレーディング機関のためのコロケーションサービス向けに新たに提供開始されたと発表しました。これにより海外の機関は日本最大の売買高を誇る取引所に直接参加できるようになります。

Since 2003, MetaBit has actively deployed its pure FIX-to-native exchange connectivity for high performance trading access to Japan’s exchanges, including the commodity exchange.  The architecture of MetaBit’s technology is based on the world’s leading Orc CameronFIX engine.  Today, securities companies select MetaBit’s FIX-to-native exchange connectivity solution for its standardised FIX API that combines high performance and low latency, with cost efficient support.

“On 30 September 2008, TSE announced its plans for “Remote Trading Participant Services” that will allow offshore firms with no branch in Japan, direct market participation.  This will facilitate increased liquidity for Japan’s markets,” explains John Edwards, MetaBit CTO.  “Our company’s FIX exchange connectivity to TSE represents a particularly convenient solution for such trading firms.  The product, branded “Alpha,” allows easy trading access through a standardized FIX interface that rationalizes TSE’s native API whilst achieving consistently high performance combined with low latency.  MetaBit’s FIX solution can be deployed in the announced co-location services at TSE, at other data centers, or at a Japan broker member’s site.”

* Performance of MetaBit’s FIX to native exchange connectivity Alpha product, has been independently measured to provide throughput above 3,000 messages per second and average latency below 2 millisecond per order at a sustained through-put of 800 orders per second1. * アルファは秒速3,000メッセージ以上、1オーダーのレイテンシーは2ミリ秒以下、1秒800オーダーを常時処理するというパフォーマンス数値を残しています※1。

“Japan’s exchanges have often believed FIX to be slow,” continues Edwards, “but MetaBit’s FIX exchange solution has a proven track record since 2003, and has successfully demonstrated that FIX is capable of high performance and low latency.  TSE’s native API is often difficult for non-Japanese firms to build connectivity to, and ongoing support becomes particularly time consuming due to ongoing changes to the API.  To have built a standardised FIX API removes all such concerns for our clients, and delivers trading access to TSE in a format that is very familiar to all firms deploying FIX.”

Today, MetaBit’s FIX exchange connectivity clients consist of broker members varying from Japanese domestic players, to global brokerage firms that trade multi-asset classes on all of Japan’s major exchanges ranging from cash equities, index futures and options, CBs to commodity futures. 今日、メタビットのFIX取引所接続ソリューションは国内のブローカー及び、日本の全ての主要取引所で取引される株式、指数先物・オプション、CB、商品先物を含めマルチアセットクラスに対応したグローバルなブローカーが導入しております。

* 1Performance measured on the following hardware: HP Proliant DL385, 2x Dual Core AMD 2Ghz, RHEL4 Update 2, 64-bit. * 1パフォーマンスは次のハードで測定: HP Proliant DL385, 2x Dual Core AMD 2Ghz, RHEL4 Update 2, 64-bit.

About MetaBit
MetaBit is the provider of the MLH (Market Liquidity Hub), an Asian broker portal that offers Direct Market Access (DMA) to 34 brokers and access to ten exchanges through its intuitive buy side trading tool XiliX.  The MLH is also accessible through the FIX Protocol, and provides access to more than 1,800 execution destinations worldwide in conjunction with MetaBit’s FIX partner networks.  MetaBit is the only provider of pure FIX to native exchange connectivity to TSE, OSE, JASDAQ and TOCOM that focus on sustained high performance and low latency.  Other products include Exchange Message Simulators to Japan’s major stock exchanges, and FIX testing and certification products.  MetaBit actively promotes FIX throughout Asia.

Partners include leading network provider BT Radianz, number one FIX connectivity solution provider Orc Software, renowned FIX testing and certification system provider Greenline Financial Technologies, and the world’s largest exchange provider NASDAQ OMX.

For more information please visit <;
Media Contacts, Koiji Ito, +81 3 3664 4160,


Filed under: Australia, Exchanges, FIX Connectivity, Japan, News, Trading Technology, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Asian Traders and Investors Conference 2008 国際分散投資フェア

The Asia Trader & Investor Convention (ATIC) is the largest platform for Asia’s local investors and traders. An average of 6000 visitors gather in different cities to learn and be educated about the latest strategies, products and services offered by local and international Exchanges, Brokerage Firms, Banks, Asset Management Firms, Information Service Vendors and other financial service providers.

Tokyo, 1-2 November 2008 Sponsor Opportunities 国際分散投資フェア

Ho Chi Min City, 31 May – 1 June 2008
Mumbai, 12-13 April, 2008
Kuala Lumpur, 22-23 March, 2008
Singapore, 1-2 March,2008
Bangkok, 12-13 January

Filed under: Events, , , , , , , , , , , , , , , , , , , , , , , ,

MetaBit launches standardized FIX connectivity to Japan’s new JSDA OTC Reporting

MetaBit announces the delivery of a standardised FIX interface to the new JSDA (Japan Securities Dealers Association) file based OTC Reporting System scheduled to be launched late October 2008.  The new system will replace the current OTC Reporting at JASDAQ, Japan’s OTC exchange, which is expected to merge with OSE in 2009.

MetaBit will deliver the production version of the new FIX gateway to its client base on September 26, 2008 to allow time for testing.  The new product will support all available standard versions of FIX.

The FIX gateway to JSDA OTC Reporting complements MetaBit’s Alpha product line that provides high performance FIX-to-native exchange connectivity to TSE, OSE, JASDAQ and TOCOM (Tokyo Commodity Exchange).  The technology is built on the world leading Orc CameronFIX platform.

“The upcoming OTC Reporting function requires Japan’s exchange members to report all OTC trades within five minutes of execution,” explains Daniel Burgin, MetaBit CEO.  “The regulatory importance of timely reporting was the driver for this new FIX solution, in answer to our clients’ needs.  It has been a somewhat unusual move, as the new reporting system is file based.  Nonetheless, MetaBit’s new FIX interface to JSDA’s OTC Reporting will be critical to deliver a complete and standardised FIX solution for Japan’s markets.  As a result we have seen immediate demand in the market place.”

In Japan, MetaBit is the only software provider of pure FIX to native exchange connectivity for all listed products at all major exchanges (TSE, OSE, JASDAQ, TOCOM).

Source: MetaBit, 21.August 2008

Filed under: Asia, Exchanges, FIX Connectivity, Japan, News, Trading Technology, , , , , , , , , , , , , , , ,

Nyfix connects to MetaBit Market Liquidity Hub

NYFIX has added MetaBit’s MLH (Market Liquidity Hub) to the NYFIX Marketplace, giving Marketplace members efficient access to an increased number of Japanese brokers and regional exchanges. MetaBit’s MLH clients will benefit from membership with the NYFIX Marketplace, one of the leading fully-managed, FIX-based trading communities in the world, gaining the ability to efficiently trade with more than 400 buy-side and 475 sell-side firms who are currently members.

Bob Moitoso, Global Head of the FIX Division at NYFIX comments: “We are on a mission to provide members of the NYFIX Marketplace with the broadest range of electronic trading services and global liquidity sources possible. By partnering with MetaBit we’ve been able to accelerate our reach into the Japanese markets and satisfy our members’ request for access to brokers and exchanges in the region. We look forward to working with MetaBit to continually provide our buy-side and sell-side members with enhanced solutions and opportunities for more efficient electronic trading.”

Daniel Burgin, CEO, MetaBit adds: “Today’s firms need extended connectivity to gain traction in global markets. The NYFIX Marketplace offers MetaBit’s clients a great platform to international markets. This partnership supports a natural progression for our FIX network and allows our clients to gain seamless access to one of the world’s largest FIX enabled trading communities.”

Source: NYFIX 04.08.2008

Filed under: Asia, Exchanges, FIX Connectivity, Japan, News, Trading Technology, , , , , , , , , , , , , , , , , ,

Tokyo Commodity Exchange to demutualise

The Extraordinary General Meeting held on July 29th decided to change the structure of our Exchange from a membership organization to a stock company (demutualization).

Based on the approval from the Ministry of Economy, Trade and Industry (METI), The Tokyo Commodity Exchange (TOCOM) will become the first for-profit commodity exchange in Japan on December 1st, 2008.

As a result of the demutualization, we anticipate that the speed of our decision-making process increases as well as flexible fund raising becomes feasible.

Source: TOCOM 04.08.2008

Filed under: News, , , , , , ,