For non-Japanese companies, gaining market share in the land of the rising sun is a daunting task to say the least.
Japanese business culture is probably the most hierarchical and structured in the world, and the large, well established FX firms in Japan often serve a domestic audience only, and rely on domestic suppliers only, be it technological, sales or the provision of ancillary services.
For this reason, it is a particular achievement for Tradency that the company is set to form a strategic alliance with Invast Securities, one of Japan’s prominent FX firms, in a nation which provides between 35% to 40% of all retail order flow globally.
In concluding the deal with Invast Securities, Tradency, whose business focuses on product development and electronic trading software, has entered into a capital and business agreement with Invast Securities, under which Invast Securities will become a Tradency shareholder (14.99%), and the two companies will develop the next stage of Invast’s Mirror Trader (ST24) system and service.
With the proceeds attained from the equity deal, Tradency will further strengthen and widen its product line and business activities, building on its current evolution into a fully independent provider of end-to-end enterprise technology solutions for FX firms.
The Mirror 360 which offers brokers a standalone solution, compiling of the Mirror Trader front end and Mirror Server back office suite, will be further developed and marketed to brokers of all sizes. At the same time, Tradency will advance its key project of extending its Mirror Trader concept and service, to additional assets markets starting with Futures and Stocks.
Tradency’s foray into the Japanese market was spearheaded by its provision of Mirror Trader to Invast Securities, which was set into effect under the designation of ST24 in 2011. Since then, it had reached over 70,000 accounts by July 2014. The newly signed alliance relies on the proven success of the ST24, and is a further reinforcement of the mutual benefits to be gained by the two companies.
To see the Tradency press release click here.