The Osaka Securities Exchange (OSE) is launching a quicker trading system in February with the introduction of a series of new services, Financial Times reports. The Japanese derivatives exchange is adopting technology from NASDAQ OMX.
The services the OSE is planning to introduce include a market making program, reduced fees, extended trading hours and lowered tick sizes. The new trading system, called J-Gate, will cut order processing speed to five milliseconds from the current 100 milliseconds and also be able to process 12,000 orders a second from the current 800.
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