Our Mission & Vision

MISSION


Japannext is committed to providing choices that enrich investor experience.

VISION


We aim to become a significant and integral piece of the Japanese market.
We will accomplish this by improving the overall liquidity of the market by increasing trading activity in our PTS, introducing new trading capabilities, and leading innovation through technology.

Our History

The introduction of Proprietary Trading System (PTS) regulation in 1998 encouraged innovation and competition among exchange venue operators in Japan. Japannext Co., Ltd. was established in November 2006 with the support of Japan’s top 4 on-line brokers (SBI Securities, Rakuten Securities, Orix Securities, and Click Securities) to create a full-fledged PTS venue to replicate ECNs (Electronic Connection Networks) in the US, serving as an after-hours market for on-line users.

In August 2007, Japannext launched a nighttime market with a system licensed from Atos Euronext Market Solutions (AEMS) which was used by the Euronext exchange in Europe. Later, Goldman Sachs Japan joined as a shareholder and liquidity provider to promote and develop the nighttime ECN market in Japan.

Subsequently, in October 2008, Japannext launched a daytime market to cater to the needs of global brokerage houses to create competition and bring about innovations in the Japanese equity market. To this effect, Japannext willingly responded with the introduction of new features such as IOC (Immediate or Cancel), FOK (Fill or Kill), and Iceberg (Reserved) order types, as well as decimal tick sizes, all readily used in the US and European exchanges. The daytime market became a first of its kind side-by-side market running along with the incumbent exchanges including TSE (Tokyo Stock Exchange) and OSE (Osaka Securities Exchange). As a result of ongoing innovations, many visionary global brokerage houses enthusiastically joined Japannext PTS as both participants and shareholders.

Today, Japannext is the oldest thriving PTS venue with 33 active members (local and global brokerage houses) in Japan with 5% market share. It has firmly established a basis for contributing actively to public forums, seminars, and private discussions – and endeavors to spearhead and drive innovations in the Japanese capital market.

Company Profile

Date of Incorporation

November 8, 2006

Company Capital

1,400 million JPY

Shareholders

SBI Group
Virtu Financial Group
The Goldman Sachs Group Inc.
Others

Board of Directors

Representative Director CEO: Masakatsu Yamada
Director: Yoshitaka Kitao
Director: Kentaro Nakanishi
Director: Douglas A. Cifu
Director: Satoe Kusakabe
Director: Jiro Eguchi
Director: Yasuyuki Ogawa
Auditor: Shizuka Hirayama

Regulatory Registration

March 9, 2007
Registration under the Securities and Exchange Law

June 6, 2007
Authorization to operate a Proprietary Trading System (PTS) under the Securities and Exchange Law

September 30, 2007
Registration as a Financial Instrument Business Operator under the Financial Instruments and Exchange Act (FIEA) (including authorization to operate a Proprietary Trading System (PTS)), Director of Kanto Local Finance Bureau (Kinsho) No.45

Registered Membership

Japan Securities Dealers Association (JSDA)
Japan Investor Protection Fund (JIPF)

Disclosed Information

Capital Adequacy Ratio as of 31 December 2023 (Japanese Only)

Information Security Management System

ISO/IEC 27001:2013

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Latest News

Date Title
2024-02-16 Daily turnover hits new record of 555.3 billion JPY
2024-01-29 2023 Top 3 x 3: Top 3 Most Traded Stocks on Top 3 Most Traded Nighttime Sessions
2024-01-23 Daily turnover hits new record of 476.9 billion JPY
2023-08-14 Japannext extends Nighttime Session Trading Hours
2023-06-13 Japannext’s PTS price information becomes available on Kabutan (a stock information website for investors), a new feature to promote price transparency and best execution
2023-06-12 Japannext successfully completes Hardware Refresh, renewing and upgrading all the hardware for its PTS
2023-06-08 Japannext Selects Pico’s Corvil Analytics to Measure and Analyze Trading Performance
2023-06-05 Tick size change applied to the J-Market (including the Night-time session) and the X-Market
2023-03-24 Japannext introduces a new feature to notify investors about stocks with large price movements through Twitter
2023-02-15 Japannext hosted a Live Talk Session featuring Dharma Capital on "Impact of the Revision of the Best Execution Policy on the Stock Market – PTS’s Potential to Expand its Market Share and HFT’s Strategy"
2023-02-03 Japannext signed a sponsorship agreement with the professional gaming team SBI e-Sports
2023-01-24 Japannext announces its "2022 Top 3 x 3: Top 3 Most Traded Stocks on Top 3 Most Traded Nighttime Sessions"
2023-01-12 Japannext hosts Live Talk Session featuring Dharma Capital on January 26, 2023 (JP) to discuss "Impact of the Revision of the Best Execution Policy on the Stock Market – PTS’s Potential to Expand its Market Share and HFT’s Strategy"
2022-08-15 PTS Webinar Hosted by Japannext & Osaka Digital Exchange on July 27, 2022 (JP)
2022-08-09 Our Owned Media YORUKABU LAB is Now Live
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Date Title
2024-02-16 Daily turnover hits new record of 555.3 billion JPY
2024-01-23 Daily turnover hits new record of 476.9 billion JPY
2021-10-05 Daily turnover hits new record of 434.8 billion JPY
2021-06-21 Daily turnover hits new record of 353.9 billion JPY
2021-05-12 Daily turnover hits new record of 333.8 billion JPY
2021-02-16 Daily turnover hits new record of 326.3 billion JPY (3.1 billion USD)
2019-11-05 Daily turnover hits new record of 210.7 billion JPY (1.93 billion USD)
2018-02-06 Night market volumes hits a 15 month high of 3.9 billion JPY
2018-02-06 Daily turnover hits 31 month high of 165.9 billion JPY (1.51 billion USD)
2016-05-23 Successful upgrade of X-stream INET matching engine
2015-08-25 Daily turnover hits new record of 193.4 billion JPY (1.62 billion USD)
2015-08-25 U-Market turnover hits new record of 2.0 billion JPY (16.8 million USD)
2015-07-09 U-Market turnover hits new record of 1.1 billion JPY (9 million USD)
2014-01-06 Daily turnover hits new record of 190.4 billion JPY (1.83 billion USD)
2013-05-27 Launch of the VWAP market
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