JapanCrossing

JapanCrossing is a neutral platform available to institutional investors for the anonymous, zero-market impact trading of Japanese equities. Operated under PTS division of Instinet Japan Limited.

Owned By
Instinet Japan Ltd.

Type
Non-Display

Markets Access

• Tokyo Stock Exchange
• Osaka Securities Exchange
• JASDAQ

Products Available

• Equites

Counterparty
Buy-side and sell-side eligible

Minimum Order Size
Not applicable

Trading System

• Newport 3 EMS
• Via FIX
• Third Party

Order Types

• Pre-Open VWAP – Orders are accepted anytime before 8:25 on the morning of the cross, with the match being run at 8:30. Reports on preliminary executions and residuals are sent by 8:40, and final priced execution reports are confirmed after VWAP has been updated in the primary market. .
• Second Pre-Open VWAP Cross – Orders are accepted anytime before 8:35 on the morning of the cross, with the match being run at 8:40. Reports on preliminary executions and residuals are sent by 8:50, and final priced execution reports are confirmed after VWAP has been updated in the primary market. Participants in the 08:30 cross also have the option to roll-over residuals or input new orders for the second cross
• Last Traded Price (AM Session) Cross – Orders are accepted anytime before 11:55 on the morning of the cross, with the match being run at 12:00 and report of priced executions and residuals sent by 12:10.
• Last Traded Price (PM Session) Cross – Orders are accepted anytime before 15:25 on the day of the cross, with the match being run at 15:30 and report of priced executions and residuals sent by 15:40
• Minimum Fill

Launched
2001