Patsystems, a UK-based supplier of software for derivatives trading, has launched a Japanese version of its front-end application J-Trader.
Patsystems says the user base for J-Trader has been mainly European and North American but the development of a customised version of the system is a key step in building its business in Japan. Although J-Trader has been used by banking professionals in Japan since its launch in 2000, there has been little penetration of the domestic market beyond this sector.
The new version has been designed to incorporate the customs and practices of the Japanese trading community. The product has a dual English and Japanese language interface and runs on Windows, Mac and Linux workstations. The interface allows users to combine individual trading screens into a single window.
The application is currently being used to trade the Nikkei 225 Stock Index Future, which spans retail, professional, domestic and foreign participants. The vendor says it hopes to add commodities trading in the future.
Access Securities, a subsidiary of Nihon Unicom and one of the first to use the new version, says the system is providing its customers with the right level of connectivity and functionality.
Duncan Symmons, development manager at Patsystems' Tokyo office, comments: "The Japanese market has tremendous potential for growth through fast, efficient and secure electronic trade. That's exactly what J-Trader will provide."
The system was first distributed to broker in Japan in March 2003 and has been available on the Internet since 1 April.