The Australian Securities Exchange (ASX), the Tokyo Stock Exchange, Inc. (TSE), and Fujitsu Limited on June 2, 2025 signed a Memorandum of Understanding (MOU) to develop a SaaS-based Request for Quote (RFQ) platform. Fujitsu will develop the platform based on “CONNEQTOR,” an RFQ platform for the ETF market developed by TSE and Fujitsu, and provide it to ASX.
The initiative aims to modernize the process for ETF pricing in Australia by implementing a SaaS RFQ platform, built and managed by Fujitsu.
The foundation of this new platform is the CONNEQTOR system provided by TSE, one of Asia’s most successful RFQ platforms. Since its launch in February 2021, CONNEQTOR has enabled over 290 users to significantly reduce costs and improve the efficiency of their ETF trading operations. Monthly trading value reached a record high of JPY 306.4 billion in April 2025.Fujitsu will serve as the service provider for the Fujitsu RFQ platform, responsible for service development, provision, and utilization support. TSE, as the licensor and operator of the CONNEQTOR system, will provide support for the platform’s implementation.
Comments
Andrew Walton, General Manager, Trading, ASX comments
“ASX is excited to partner with Fujitsu and TSE to explore the opportunities the Fujitsu RFQ platform can deliver for the Australian market. With the ability to increase liquidity and price discovery, ASX sees the potential to support the development of this market segment and its participants. We will be engaging extensively with the Australian industry to gather feedback to assess the feasibility of launching this platform in the first half of 2026.”
Satoshi Takura, Senior Executive Officer, Tokyo Stock Exchange (Senior Executive Officer & CIO, Japan Exchange Group) comments
“It is great to join forces on the feasibility of a service based on TSE’s CONNEQTOR. By providing international and diverse market functions, we hope to contribute to the development of the global ETF market from a technological perspective.”
Masaru Yagi, Corporate Executive Officer, SEVP, Fujitsu Limited comments
“Fujitsu is excited to explore this opportunity to provide the Fujitsu RFQ platform for the Australian Securities Exchange. Leveraging our deep experience in building and maintaining financial infrastructure with cutting-edge technology, we’re confident that our strong partnership with the Tokyo Stock Exchange will unlock even greater value for the ASX and its global customers.”
Fujitsu, in cooperation with TSE, aims to expand the Fujitsu RFQ platform to other exchanges around the world and explore further potential collaborations.
Related Page
Overview of RFQ Platform “CONNEQTOR”
Source: TSE
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
Citi Changes Organizational Structure
SEC Charges Virtu for Disclosures Relating to Information Barriers
ICE Futures Singapore Partners with CoinDesk Indices
Related articles
-
Europe’s first and largest ETF white label platform has record $7.7bn AUM.
-
This expands how investors can access crypto investments and blockchain-native returns.
-
The regulator commented on questions that market participants have presented to staff.
-
The WisdomTree Europe Defence UCITS ETF (WDEF) launched three months ago.
-
The active high yield ETF is anchored by $2bn from an institutional external client.