In order to facilitate market access and increase liquidity in its flagship products 3 month Euroyen futures and options, Tokyo Financial Exchange (TFX) has initiated a remote membership program and collocation services. TFX is pleased to announce the first trading firms to apply for remote membership.
Applicants:
These companies are currently applying to register as a financial instruments business with the Financial Services Agency in Japan. After applying to TFX and connecting to the TFX host, they will be ready to trade. TFX is targeting the end of the first quarter of 2009 as the time to go live.
TFX has obtained permission to market remote membership from the FSA in the United Kingdom and the CFTC in the U.S.A. By the start of next year, TFX hopes to place an application to gain permission from MAS in Singapore and thus expand remote membership into the Asia region.
Remote Membership Program
This is a program where overseas investors, who have no offices in Japan, will be able to become members of the exchange and access the TFX market directly to trade 3 month Euroyen futures and options. The fee for registration as a member of TFX has been reduced to zero. Remote members must clear through an existing TFX clearing member in Japan and must register as a Category Two Financial Instruments Business with a legal representative based in Japan.
Colocation Services
As a colocation site, TFX is endorsing KVH and Equinix datacenters. Both companies have global coverage and comprehensive service listings.
TFX Connectivity
GL Trade is offering a complete global network connectivity solution to TFX. Patsystems is also offering a solution to connect to TFX, excluding a global network. Trading Technologies is targeting connectivity support to TFX by the end of the first quarter of 2009. In addition, RTS and FFastfill are currently starting connectivity procedures. For those traders seeking network solutions, KVH, BT and TNS are all offering their services.
G.H. Financials
G.H. Financials Ltd. was established in 1993 as a clearing member of LIFFE. The company has gained considerable experience in electronic trading. The company’s principal activity is the provision of trading access on electronic derivatives exchanges to professional traders, the clearing and settlement of their trades, and providing the services necessary to support such market activity. The company has exchange memberships with NYSE-Euronext Liffe, NYSE-Euronext Paris, Eurex, ICE and Montreal Exchange.
Advantage Futures
Advantage Futures is the Chicago-based premier futures brokerage firm designed exclusively by trading industry professionals for institutions, hedge funds, CTAs, proprietary trading groups and professional traders. The firm was founded in 2003 and in the first 4½ years of operation, cleared over one billion contracts. Advantage Futures strives to grow through its dedication to excellence in client service. Advantage Futures has exchange memberships with CME, NYSE-Euronext Liffe, Eurex, ICE and Montreal Exchange.
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