SBI Japannext acquires 11.65% of N2N Connect
By Digital News Asia December 27, 2018
- Encourage greater uptake of cross-border trading
- SBI Japannext can boost regional interest in Japanese equities and bonds
JAPANESE online broker, SBI Japannext Co Ltd acquired an 11.65% stake in N2N Connect Bhd, giving both companies greater opportunities to collaborate in the development of alternative trading systems for Asia, particularly in cross-border trading.
“The collaboration between Japannext and N2N will open up new opportunities for both entities through the promotion of more trading activities in the region while encouraging greater uptake of cross-border trading,” N2N said in a statement.
It said its Asia Trading Hub spanning Southeast Asian countries such as Malaysia, Thailand, Indonesia, Singapore, Vietnam and the Philippines, as well as other markets in Asia namely, Hong Kong and Macau, provides SBI Japannext with a platform to boost regional interest in Japanese equities and bonds through the former’s proprietary trading system.
Existing customers of N2N Connect “will have the opportunity to tap into the liquidity pool in Japan by promoting Asian markets to Japanese investors.”
N2N Connect closed 1.5 sen or 1.71% higher at 89.5 sen, with 318,900 shares traded.