Nick McDonald, Co-head of Asian Equities, Instinet in Asia: "We are pleased that TradingScreen's institutional client base can now access CBX ASIA."
TradingScreen, the provider of multi-broker, multi-asset class execution management systems (EMS), has announced the launch of its direct connection to Instinet's CBX Asia, the agency-only broker's real-time, displayed ATS (alternative trading system) for Japanese and Hong Kong equities.
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", said Bernard Ho, TradingScreen Head of 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," said Nick McDonald, Co-head of Asian Equities at Instinet in 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."