Virtu Financial (VIRT) announced today it is making a strategic minority investment in SBI Japannext, Co., Ltd., a leading Proprietary Trading System ('PTS') based in Tokyo.
The investment is part of Virtu’s strategic long-term commitment to the Japanese marketplace. Japannext operates a round-the-clock venue with 29 active members (local and global brokerage houses) and is the oldest thriving PTS venue in Japan.
“In Virtu, we are privileged to gain a global leader in electronic trading as a partner,” said Chuck Chon, CEO of Japannext. “As a multi-asset liquidity provider in markets around the world, Virtu brings a breadth of experience and expertise to support Japannext’s growth strategy. We are very excited about the opportunity to collaborate more closely with such a pioneer in the space.”
"Entering into a strategic relationship with Japannext is a meaningful opportunity for Virtu to increase its footprint within Asia. Japannext's best-in-class technology and history of innovation have allowed them to become the leading PTS in Japan, and make them a natural partner for Virtu in the region," said Douglas A. Cifu, Chief Executive Officer of Virtu. Mr. Cifu will join Japannext’s Board of Directors in association with Virtu’s investment.
Terms of the transaction were not disclosed.