Monex begins offering SOR services by adding prop trading systems and dark pools to venues

Maria Nikolova

The SOR services find the best available opportunity among the Tokyo Stock Exchange, PTS and dark pools for execution when handling orders.

Japanese online trading company Monex Inc, a part of Monex Group, Inc. (TYO:8698), today announces that it commenced offering smart order routing (SOR) services, effective Saturday, June 15, 2019, that include proprietary trading systems (PTS) and dark pools as execution venues.

The brokerage explains that SOR services find the best available opportunity among the Tokyo Stock Exchange, PTS and dark pools for execution when handling orders. The launch of the new services is in response to the needs of customers who are seeking better execution opportunities for their cash trading of Japanese equities.

Customers are offered the execution opportunities in PTS and dark pools when they make orders to the Tokyo Stock Exchange. The SOR systematically identifies the best available execution venue, and offers customers opportunities to pursue better trading results. The PTS Monex connects to for the SOR service is called J-Market of Japannext PTS, which is operated by SBI Japannext Co., Ltd.

Customers with comprehensive securities accounts in Monex do not need to submit a separate application to begin trading through the SOR. The SOR is set as default in the order screen, making it easy for any customers to get started.

Monex returns the full amount of benefits made available by SOR (i.e. any better pricing than the expected execution pricing at the Tokyo Stock Exchange) to its customers which can be confirmed in the execution statement screen. In addition, Monex plans to announce monthly statistics reports on benefits, that are evaluated by a third-party organization. By validating pricing benefits from the independent point of view and making it public, the company hopes s to offer transparent trading services.

The launch of SOR is in line with Monex’s “For Creative Minds” brand statement announced in November 2018, Monex, Inc. is committed to proposing innovative, “future finance,” with a creative mindset, leveraging new ideas and perspectives that go beyond the traditional framework.

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