Comments on Profile Post by pletokyo

Hi,
Am always interested in something new to trade. But having seen so many new listings never get off the ground, it's just wait and see.
Are you interested in it due to dissatisfaction with the Nikkei for some reason?

Maybe it is the fact that JPX400 is market cap weighted made me interested as companies such as Fast Retailing and SoftBank have too much weight in Nikkei which made me feel like I am just trading their stocks sometimes.

However, since their correlation is so high, it probably would not make any difference switching. At the end, one is better off trading whichever instrument that has better volume to increase the odds of getting filled. So, like you said, we gotta just wait and see.

Take a look at this news that just came out. Big change regarding margin. http://www.matsui.co.jp/news/topic/archive/20150116.html

Wow, 50 yen round trip. That is so cheap!! It also shows the kind of cut-throat competition that is going on in the futures industry. I wonder how brokers can make enough money if commissions keep going down.

Yeah, 50 yen is good. Matsui has always been the leader in this respect. He was the first to offer lower commissions back in 1997. More than that though, I like the 50x margin rate.

SBI Securities started offering 50 yen round trip for mini nikkei that went through their dark pool too. Basically they will first try to match your order with another client's order. If there isn't a match then they route your order to OSE. What do you think of that?

The last time I looked at the data from OSE, there didn't appear to have been that many matches.

Just checked and found that there are 6 to 9 thousand matches each day. I have my doubts that you could get a better price than in the action market. If you try it. please let me know how it goes.

Another point you should check is if you buy through J-Net do you have to close the position through J-Net too. That could be tricky.

Okay so after some testing I have found out that the J-Net thing is quite useless. First of all, only about 1/10 the trades I have taken (while indicating that I wish to be routed to J-Net) got filled on J-Net. And if I do not get filled on J-Net, I do not get commission discount.

Second, one cannot use IFDOCO or OCO on J-Net so one would have to monitor the position all the time. Third, even in instances where i got filled on J-Net, I would have been filled on OSE as well. There is no advantage in using J-Net

So yeah it's pretty much just another hype the brokerages themselves have created to get more people to pay them commission lol

Thanks for the info. I have just submitted an application for Matsui. Are you trading with them currently?

I've had an account with Matsui since 1998 when I traded options with them. Will move my futures trading to Matsui next week.