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.

Read this next

Executive Moves

Lirunex Limited recruits Waleed Salah as head of MENA sales

Maldives-based brokerage firm Lirunex Limited has secured the services of Waleed Salah, who joined the company in the role of its head of sales for the MENA region.

Executive Moves

Trading 212 parts ways with co-founder Borislav Nedialkov

Trading 212 has a void to fill at its FCA-regulated business in London, following the departure of two key players, Raj Somal and Borislav Nedialkov.

Digital Assets

Binance acquires troubled crypto exchange GOPAX

Binance, the world’s largest digital asset trading platform, has reportedly acquired a majority stake in the troubled South Korea-based cryptocurrency exchange GOPAX.

Digital Assets

Kraken exits Middle East, closes UAE office

Digital currency exchange Kraken will close down its operations in Abu Dhabi, UAE and lay off the majority of its team focused on the Middle East and North Africa.

Industry News

CFTC comments on ION Cleared Derivatives issues after Russian-linked hack

“The ongoing issue is impacting some clearing members’ ability to provide the CFTC with timely and accurate data. As this incident unfolded, it became clear that the submission of data that is required by registrants will be delayed until the trading issues are resolved.”

Industry News

FCA took down 14 times more misleading ads in 2022 thanks to technology

The FCA has made significant improvements to the digital tools it uses to find problem firms and misleading adverts. These improvements have enabled it to work through a much larger number of cases compared with 2021.

Executive Moves

HKEX appoints ex-Goldman Sachs Matthew Cheong to lead platform’s focus on derivatives

“He has worked for a number of the world’s leading investment banks and his experience will be invaluable to HKEX as we continue to enhance our derivatives product offerings and build on our innovative and robust platform business, connecting capital with opportunities.”

Digital Assets

Zodia Custody and SBI Digital Asset Holdings launch JV for crypto asset custodian in Japan

“Zodia Custody is both proud and excited to be working with SBI DAH to help set up SBI Zodia Custody; the first tier 1 crypto asset custodian for institutions in Japan.”

Digital Assets

Paxos opens R&D center in Israel to focus on transaction signing and crypto custody security

“Paxos is looking to expand its team in Israel in 2023 and beyond, giving engineers the opportunity to work on cutting-edge financial products and shape the future of the global economy.”