Japan Bond Trading and Instinet to Form a Global Alliance.Business Editors/High-Tech Writers TOKYO--(BUSINESS WIRE)--Sept. 21, 2000 Market Leaders Japan Bond Trading and Instinet To Work Toward Creating a Joint Venture to Deliver Electronic Access to Japanese Bond Market Liquidity Japan Bond Trading Co., Ltd. (JBT JBT John Butler Trio (Australian band) JBT Junior Bowlers Tour JBT Jack-Booted Thug JBT Jumper for Blue Tooth ), the leading brokerage house for Japanese Government Bonds (JGBs) and Instinet Corporation, a wholly-owned subsidiary of Reuters Group PLC, today announced plans to form a commercial alliance. This alliance will enable the partners to deliver a global electronic brokerage service of JGBs, other Japanese fixed income securities, U.S. Treasury securities U.S. Treasury securities Interest-bearing obligations if the U.S. government issued by the U.S. Department of the Treasury as a means of borrowing money to meet government expenditures not covered by tax revenues. and Euro Sovereign Debt to market participants The term market participant is used in United States constitutional law to describe a U.S. State which is acting as a producer or supplier of a marketable good or service. When a state is acting in such a role, it may permissibly discriminate against non-residents. in Japan and around the world. The alliance will bring together the significant capital market strengths of Japan Bond Trading and Instinet. It will offer market participants the benefits of JBT's commanding market share and dominant liquidity position in the Japanese market, combined with Instinet's global network and product capabilities. Through the integration of technologies of Japan Bond Trading and Instinet the alliance will be able to take a lead in the development of a next generation electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. system. This system will be specially designed to provide the first truly comprehensive e-brokerage solution for the Japanese market. Yoshikazu Kitsuda, president and chief executive officer of Japan Bond Trading Co., Ltd. said, "We are delighted to announce this exciting alliance with Instinet. Market participants will be able to take advantage of our position in the Japanese market and Instinet's global reach, at the same time using the best technology platform available in the fixed income markets. This leading-edge technology will deliver anonymous, neutral and transparent brokerage services across all time zones. Combined with our established comprehensive Japanese client base, this approach will allow us to create more liquid and efficient markets to the benefit of all market professionals." Peter Fenichel, chief executive officer, Instinet Global Fixed Income Markets said, "The Japanese bond market is poised for tremendous growth, and has become the largest debt market in the world. Combining Japan-based electronic access with global cross-border distribution will enhance liquidity. By joining forces with Japan Bond Trading, we are able to extend our global distribution platform and provide the latest technology, market functionality, and straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. to all three major debt markets -- Japan, United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe." About Japan Bond Trading Co. Ltd. Japan Bond Trading Co., Ltd. was established in 1973 by the Japanese securities industry and introduced the first electronic trading system for Japanese fixed income securities in 1986. Japan Bond Trading has contributed to the development of the secondary market with a corporate philosophy of Impartiality im·par·tial adj. Not partial or biased; unprejudiced. See Synonyms at fair1. im  par·ti·al , Fairness and Transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. . Japan Bond Trading received the first Japanese PTS PTS put to sleep; a common euphemism for euthanasia, but also used to describe general anesthesia. license for equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as in Japan and started their electronic trading system for off-hours trading in September. The company is now and has always been devoted to helping market professionals increase their efficiency. For more information, please visit www.bb.jbts.co.jp. About Instinet Corporation Instinet Corporation, the world's largest agency brokerage firm, trades in over 40 global markets daily and is a member of 20 exchanges in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, and Asia. The firm is committed to bringing efficiencies to capital raising worldwide by using technology in securities trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the and research to bring issuers and investors closer together. Instinet is a worldwide industry leader in applying advanced technology to agency trading in equities. As a pure agency broker, Instinet seeks only to increase its clients' investment performance by providing them access to global liquidity, enhanced efficiency, and greater opportunities to reduce transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). . The firm was founded in 1969 and was acquired by Reuters Group PLC in 1987. For more information, please visit www.instinet.com. About Reuters Reuters (about.reuters.com), the global information, news and technology group, plays a significant role in the functioning of the financial and media markets. Reuters strategy is to make the financial markets work on the Internet. Reuters is the world's largest international news and television agency with 1,957 journalists, photographers and camera operators in 185 bureaux serving 153 countries, gathering and editing news in 24 languages. Reuters premier position is based on a reputation for speed, accuracy and impartiality as well as for continuous technological innovation. Reuters supplies news and information to over 900 internet websites. Instinet, an independently managed subsidiary of Reuters, is the world's largest electronic agency brokerage firm. It covers the equities and fixed income markets. On 30 June 2000, the Group employed 17,067 staff in 215 cities in 98 countries. Note to Editors: Reuters and the sphere logo are the trademarks of the Reuters group of companies. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion