TradingScreen, the provider of multi-broker, multi-asset class execution management systems (EMS), directly connects to Instinet’s CBX Asia, the agency-only broker’s real-time, displayed ATS (alternative trading system) for Japanese and Hong Kong equities.
The integration of CBX ASIA to the TradingScreen’s destination network confirms the company’s commitment to bringing the Buy Side the broadest access of liquidity across the most diverse global execution venues.
The TradingScreen platform provides trade execution and settlement tracking for institutional traders in more than 100 countries representing over 250 equity and equity derivatives exchanges across the world, including access to the systematic internalisers, crossing networks, grey pools and MTFs. CBX ASIA will be accessible through TradingScreen’s flexible range of execution management interfaces: TradeSmartTM, TradeExcelTM and TradeFIXTM.
Launched in Asia in 2001, first in Japan under Instinet’s Japanese PTS (Proprietary Trading System), CBX ASIA is a real-time, low-latency central limit order book with traditional price/time priority and rich order functionality for the trading of Japanese and Hong Kong equities. It allows investors to trade in size and anonymously with natural counterparties without exposing orders to pricing pressure from the public markets.
Unlike Instinet CBX in the U.S., which is based on the same technology, CBX ASIA is a displayed platform whose market data is available to clients, as fully-hidden orders are prohibited under securities laws in certain Asian jurisdictions.
“As the Asia marketplace continues to see an increasing number of liquidity venues, Buy Side traders are looking more than ever to access all this liquidity consistently and efficiently”, says Bernard Ho, head of TradingScreen, Asia Pacific and Japan.
“We are pleased to offer our clients access to CBX ASIA through our trading platform as we remain fully committed to providing the broadest selection of liquidity in Asia and globally, ensuring that our clients have a unique and dynamic edge when accessing trading venues”.
“Given the current market environment, clients are more focused than ever on seeking liquidity efficiently and anonymously,” says Nick McDonald, co-head of Asian Equities, Instinet Asia. “We are pleased that TradingScreen’s institutional client base can now access CBX ASIA, which provides traders an alternative to the exchange and the ability to reduce market impact, achieve finer spreads and trade anonymously.”
L.D.