In a strategic move to enhance the Australian ETF market, the Australian Securities Exchange (ASX) has partnered with the Tokyo Stock Exchange, Inc. (TSE) and Fujitsu Limited to develop a cutting-edge SaaS-based Request for Quote (RFQ) platform. The collaboration, formalized through a Memorandum of Understanding (MOU) signed on June 2, 2025, aims to revolutionize ETF pricing processes in Australia by introducing a modern SaaS RFQ platform.
The foundation of this innovative platform is the proven success of “CONNEQTOR,” an RFQ platform for the ETF market jointly developed by TSE and Fujitsu. CONNEQTOR, launched in February 2021, has demonstrated remarkable efficiency, facilitating over 290 users and achieving a record high monthly trading value of JPY 306.4 billion in April 2025. Fujitsu will spearhead the development and management of the new RFQ platform, leveraging its expertise to provide seamless service delivery.
Andrew Walton, General Manager of Trading at ASX, expressed enthusiasm about the collaboration, emphasizing the platform’s potential to enhance liquidity and price discovery in the Australian market segment. ASX is actively engaging with industry stakeholders to gather feedback and evaluate the platform’s feasibility for a prospective launch in the first half of 2026.
Commenting on the collaboration, Satoshi Takura, Senior Executive Officer at TSE, highlighted the significance of international market functions in fostering global ETF market development. By leveraging the technological prowess of CONNEQTOR, TSE aims to contribute to advancing the ETF market on a global scale.
Meanwhile, Masaru Yagi, Corporate Executive Officer at Fujitsu Limited, underscored the company’s commitment to delivering value to ASX through the Fujitsu RFQ platform. With a strong track record in financial infrastructure development and cutting-edge technology, Fujitsu is poised to unlock new opportunities for ASX and its global clientele, building on its partnership with TSE.
Looking ahead, Fujitsu and TSE are focused on expanding the Fujitsu RFQ platform to other global exchanges, exploring potential collaborations to drive further innovation in the ETF trading landscape.
ASX, a key player in the Australian financial markets, offers comprehensive exchange services including listings, trading, clearing, settlement, and post-trade services. Positioned at the core of the vibrant Australian financial ecosystem, ASX plays a pivotal role in facilitating market activities and fostering liquidity.
On the other hand, Tokyo Stock Exchange, licensed as a financial instruments exchange, operates prominent financial instruments markets in Japan. As a subsidiary of Japan Exchange Group, Inc., TSE holds a central position in the Japanese securities market, boasting the third-largest market capitalization globally and the largest in Asia.
Fujitsu, a leading digital transformation partner globally, is dedicated to driving sustainability through innovation. With a workforce of 113,000 employees, Fujitsu tackles significant societal challenges by leveraging key technologies such as AI, Computing, Networks, Data & Security, and Converging Technologies. As a top digital services company in Japan, Fujitsu reported consolidated revenues of 3.6 trillion yen for the fiscal year ended March 31, 2025.
The collaborative efforts between ASX, TSE, and Fujitsu underscore a strategic alignment towards enhancing ETF trading infrastructure and fostering market efficiency. With a focus on technological innovation and market development, the partnership paves the way for a more dynamic and competitive ETF trading landscape in Australia and beyond.
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