Tokyo FinTech
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Tokyo FinTech

Osaka Digital Exchange to launch PTS operations on June 27

The Osaka Digital Exchange (ODX), jointly owned by SBI Group (70%), Sumitomo Mitsui Financial Group (20%), Nomura Holdings (5%), and Daiwa Group (5%), has registered as a Type I financial instruments trader on April 18, and obtained authorization to operate a Proprietary Trading System (PTS) on April 28. It has now declared that it will commence PTS operations on Monday, June 27.

While the initial focus is on listed shares, ODX plans to develop a secondary market for security tokens, for which the regulatory framework has been in place since May 2020, to support flexible financing for companies and provide a wide range of investment opportunities for investors. Once launched in 2023, it will be the first domestic trading venue for security tokens.

Further, SBI plans to make ODX the centerpiece of a global organizational structure, which for now also includes Börse Stuttgart, Germany’s second-largest exchange and — through its massive warrants business — Europe’s largest retail-focused exchange, and SIX Digital Exchange, a joint venture established in Singapore together with Swiss SIX Group to conduct security token-related business.

SBI established the relationship with Börse Stuttgart in December 2019, by announcing investments into Börse Stuttgart Digital Exchange and Börse Stuttgart Digital Ventures (creators of the Bison crypto trading app), both subsidiaries of Börse Stuttgart. The agreement with SIX was struck one year later, in December 2020, with the JV entity to provide digital asset issuance, trading and custody functions for institutional investors.

Lastly, Siam Commercial Bank (SCB) has invested in SBI Digital Assets in January 2022, so Bangkok might conceivably become the fourth leg of this global infrastructure, especially since SCB had acquired a controlling stake in digital asset exchange Bitkub only months earlier.

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