No prop firms. Might be a regulatory problem or maybe just no demand. Have you looked at IB? That would be the only English platform that I know of. I looked around for one for someone else but no luck. With so little demand for one here in Japan that's understandable. Also, IB would be the best for leverage with the exception of Himawari. They offer 50% of SPAN for Nikkei futures and are considering doing so for Topix futures too. IB is 50% of SPAN +25% As you already had an account with Matsui, I figured you didn't have a problem with Kanji.
Thanks Learner. Yeah, must be regulatory issue--looked all over for some prop firms but can't really find any. Kanji is ok for me, but would prefer English of course. Anyways, thanks for the info again.
Sorry, if I could ask another question.. Why do you use IB for JGB and Topix futures while using the Japanese plaftforms for Nikkei futures? Thanks.
A combination of factors mainly related to my set up with 5 monitors. Things such as having the max of 3 BookTraders open for JGB, Topix and STW futures. There would not be any problem using IB for Nikkei if I rearranged things. Do you need quality charting, or is what Matsui offers sufficient?
Thanks Learner as always. Matsui's charts are sufficient. I don't have an IB account but am thinking of opening one to also trade JP stocks. How is IB's Japan stocks platform? Also, do you know the difference in commissions between the two? Is there a significant difference?
IB's commission is a flat rate of 0.08%. You can do better with a local broker. If you're trading stocks, I see no advantage in using IB's platform. But for futures I would go with IB for sure.
Learner, not sure if you're still around but have been hearing that there are some prop firms in Tokyo. But many deal primarily in commodities. i heard Jane Street Cap is here also, but other than that, can't find too much info. Probably would be a good biz venture if someone were to set up a shop--although I can imagine the headaches with all these JP regulations.
Yeah, you're right, they are here. http://rikunabi2010.yahoo.co.jp/bin/KDBG00100.cgi?KOKYAKU_ID=2715900001
Hi guys. Can somebody please explain the main differences between the Tokyo Exchange and the US exchanges in terms of the way they work? For starters, the Japs it seems have a lunch break between 11am-12:30pm. Is there a closing auction at 11am and then an opening auction at 12:30pm? Or does trading just all of a sudden close then all of a sudden open? Thanks. Any info is much appreciated.