Toji joins SGX as proprietary trading member

04 Aug 2003

Toji Trading, part of a global proprietary trading and market-making group, has joined Singapore Exchange as a commercial associate member. It plans to actively trade SGX's Japanese contracts including the Nikkei 225 and JGB futures.

Toji is part of the Solstice Group of companies, managed out of Chicago and...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.