Sydney, Australia, Tokyo and Kawasaki, Japan, July 3, 2025 - (JCN Newswire) - 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.
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, EVP, 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.
About Australian Securities Exchange
ASX is an integrated exchange offering listings, trading, clearing, settlement, technical and information services, technology, data and other post-trade services. It operates at the heart of the globally attractive, deep and liquid Australian financial markets.
About Tokyo Stocks Exchange, Inc. (TSE)
Tokyo Stock Exchange is licensed as a financial instruments exchange under the Financial Instruments and Exchange Act and operates financial instruments markets. The market capitalization of companies listed on the Tokyo Stock Exchange is the third largest in the world and the largest in Asia, and we have established our position as the central market in Japanese securities. Tokyo Stock Exchange is a wholly owned subsidiary of Japan Exchange Group, Inc. (Code: 8697).
About Fujitsu
Fujitsu’s purpose is to make the world more sustainable by building trust in society through innovation. As the digital transformation partner of choice for customers around the globe, our 113,000 employees work to resolve some of the greatest challenges facing humanity. Our range of services and solutions draw on five key technologies: AI, Computing, Networks, Data & Security, and Converging Technologies, which we bring together to deliver sustainability transformation. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.6 trillion yen (US$23 billion) for the fiscal year ended March 31, 2025 and remains the top digital services company in Japan by market share. Find out more: global.fujitsu
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