The Australian Securities Exchange (ASX) has joined forces with the Tokyo Stock Exchange (TSE) and Fujitsu to introduce a Software as a Service (SaaS) request for quote (RFQ) platform aimed at enhancing the Australian ETF market. This collaborative effort involves the signing of a memorandum of understanding (MOU) and the development of the platform by Fujitsu, leveraging TSE’s CONNEQTOR system. The TSE system, launched in February 2021, has proven successful in reducing costs and improving efficiency for over 290 users.
Andrew Walton, ASX’s general manager of trading, expressed optimism about the platform’s potential to boost liquidity and price discovery, thereby supporting the growth of the ETF market segment and its participants. ASX plans to engage extensively with industry stakeholders to gather feedback and evaluate the platform’s feasibility for a potential launch in the first half of 2026. Fujitsu also anticipates extending the RFQ platform to other exchanges in the future, building on its existing collaboration with the Tokyo Stock Exchange.
Masaru Yagi, corporate executive officer at Fujitsu Limited, highlighted the company’s expertise in financial infrastructure development and advanced technology, emphasizing the added value that the partnership with TSE could bring to ASX and its global clientele. This initiative follows recent advancements in the Australian financial markets, including ASX’s collaboration with Beeks Financial Cloud Group in May 2022 to offer colocation infrastructure for clients connecting to the Australian Liquidity Centre (ALC).
The ASX, TSE, and Fujitsu collaboration signifies a strategic move towards innovation in electronic trading, with a specific focus on supporting the Australian ETF market’s evolution. The platform’s development aligns with the broader industry trend of enhancing trading operations through technological advancements and strategic partnerships. The integration of TSE’s proven system with ASX’s market expertise and Fujitsu’s technological capabilities is poised to drive efficiency and competitiveness in the Australian financial landscape.
Industry experts view this collaboration as a significant step towards modernizing the Australian ETF market and fostering greater participation from investors. By introducing a cutting-edge RFQ platform, ASX aims to create a more dynamic and liquid trading environment, offering enhanced opportunities for price discovery and market access. The collaboration with TSE and Fujitsu underscores ASX’s commitment to staying at the forefront of technological innovation and meeting the evolving needs of market participants.
Looking ahead, the successful implementation of the RFQ platform could set a new standard for electronic trading in the Australian financial industry, potentially serving as a model for other exchanges globally. This partnership exemplifies the power of cross-border collaboration and the synergies that can be achieved through combining expertise from different regions to drive innovation and efficiency in financial markets.
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