Fintech firm Trade Works gets listed on TSE

Maria Nikolova

The company, whose shares will trade under the ticker “3997” on the Tokyo Stock Exchange, offers IT solutions for customers in the Forex and commodity trading sectors.

Fintech firm Trade Works Co Ltd (TYO:3997) got listed on the Tokyo Stock Exchange today. Its initial price has not been determined yet, so the Exchange has informed market participants about the matching mechanism to be applied to the company’s shares on November 30, 2017, the second day of listing. The special matching mechanism is applied to a directly-listed stock on the second day until its initial price is determined.

The order book center price is set at JPY 5,060, with the upper limit price set at JPY 11,640 (230% of the order book center price). A special bid quote will be raised by JPY 260 at intervals of 10 minutes up to JPY 11,640 or until an initial price is determined. The lower limit price is JPY 3,795 (75% of the order book center price) and a special ask quote is renewed in the same way as other issues, that is, based on the same price and time intervals.

The acceptable order price range is between JPY 1,265 (25% of the order book center price) and JPY 20,240 (400% of the order book center price). Once the initial price is determined, the daily price limits will apply with the initial price set as the base price.

Trade Works provides IT solutions to customers active in the securities, foreign exchange and commodity markets. The company claims to offer highly accurate and fast systems that are convenient to use and built using supreme technology.

We have not seen that many public listings of companies active in the Forex industry or offering services related to FX in Japan lately. In March 2016, retail Forex broker Hirose Tusyo Inc (TYO:7185), also known as HiroseFX, went public, joining other Forex majors on JASDAQ such as GMO Financial Holdings Inc (TYO:7177) and Invast Securities Co., Ltd. (TYO:8709).

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