A platform that offers “after-hours” day trading recently expanded to the region of Japan, where the Tokyo Stock Exchange has an interest in the North American fintech firm.
Blue Ocean Technologies, based in the US with substantial Canadian backing, provides electronic access for global clients to trade US stocks outside of normal exchange hours.
The art of “Day trading” expands to near-24/7 trading.
Impressed with Blue Ocean’s tech, the Tokyo Stock Exchange made a 5% investment into Blue Ocean Technologies.
Hiroki Kawai, Senior Executive Officer for the TSE, described Blue Ocean as “a unique and ambitious US equities trading venue operating in the Asian time zone.”
The chief executive officer of Blue Ocean agrees, adding that he was “delighted to take a strategic step in our mission of increasing our footprint within the Asia-Pacific region.” CEO Brian Hyndman noted how his team worked on courting the TSE as a partner for eight months.
“Our partnership with the Tokyo Stock Exchange is both a strategic development for Blue Ocean and for all Japanese investors, providing them the opportunity to trade US stocks during their daytime hours,” continued Hyndman. “Furthermore, we are very excited to have a global capital markets leader like the TSE validate our business model with their investment, which will contribute to our overall business growth, technology and infrastructure development while providing new trading choices and transparency for local Japanese investors.”
As part of the new alliance, Blue Ocean officially enters the Japanese trading market for the first time.
Although he is content with expansion progress so far, Hyndman eventually wants his company’s “Alternative Trading System” to offer a proper two-way trading street.
“Right now, we are focused on Japanese investors trading on Blue Ocean but something we want to explore is offering US investors the same ability to trade Japanese stocks though our platform,” Hyndman stated.
The fintech’s primary financial backer is Urbana Corporation, a Toronto-based investment holding company.
Urbana owns approximately one-third of Blue Ocean Technologies following the TSE investment.
Blue Ocean was founded in New York in 2016 and launched its exchange-like Alternative Trading System in 2021.