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Dharmacapital relocates from Tokyo to Singapore
Dharmacapital, Japan’s only registered high-frequency trading (HFT) firm, has relocated its entire staff from Tokyo to Singapore. The move leaves Tokyo with no locally operating high-speed trading firms among the 53 entities registered to participate in Japanese markets.
Akiyoshi Shiotani, CEO of Dharmacapital’s Singapore operation, stated the relocation was intended to improve access to global markets. While the firm is moving its base, it intends to continue providing liquidity and market-making services to the Tokyo Stock Exchange and Osaka Digital Exchange remotely.
Reports suggest that Japan’s high personal tax rates and language barriers have contributed to the difficulty of retaining financial talent compared to regional hubs like Singapore and Hong Kong. Market-making firms have been significant to the Japanese economy, accounting for over 30% of trading value on the Tokyo Stock Exchange since 2024.
Entities
Akiyoshi Shiotani · Dharmacapital · Financial Services Agency · Singapore · Tokyo Stock Exchange
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Market-making firms have accounted for more than 30% of trading value on the Tokyo Stock Exchange since at least 2024. www.japantimes.co.jp
- [● 2 SOURCES] The relocation was primarily intended to improve access to global markets. www.hedgeweek.com · www.japantimes.co.jp
- [● 3 SOURCES] Dharmacapital will continue to provide liquidity and market-making services to Japanese markets from Singapore. cryptobriefing.com · www.hedgeweek.com · www.japantimes.co.jp
- [○ 1 SOURCE] High tax rates in Japan compared to Singapore and Hong Kong were a factor in the relocation decision. www.japantimes.co.jp
- [● 2 SOURCES] Dharmacapital was the only high-frequency trading firm based in Tokyo among 53 registered entities as of July. www.hedgeweek.com · www.japantimes.co.jp