Market Making Incentive Scheme

List of Market Makers

Nomura Securities Co., Ltd.

Nomura Nomura Securities Co., Ltd. (NSC) plays the central role in the Group's core securities business. As the leading securities and investment banking company in Japan, we provide individual investors and corporate clients with a broad range of services, including investment advisory services and securities underwriting.

We provide individual clients with wealth management services meeting their individual long-term needs and risk tolerance.
We provide corporate clients with a wide array of specialized services based on our strong research and solution-delivering capabilities. These include investment management support for institutional investors, M&A financial advisory services for raising company shareholder value, and underwriting stock and bond issues to procure funds from the capital markets.

By providing clients with high value-added products and services, we aim to both expand on our leading position in, and contribute to the continued growth of Japan's securities industry.

Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.

Mitsubishi UFJ Morgan Stanley Under our corporate vision, we are "committed to meeting the needs of our customers, serving society, and fostering shared and sustainable growth for a better world, to be a foundation of strength."
We provide optimal solutions while emphasizing risk management, compliance, and information management, in order to continue to meet the expectations of our customers. Through these efforts, we seek to establish our position as the leading company in the Japanese securities industry, inspiring the greatest trust of customers, and being No. 1 in terms of "Trust," "Innovation," and "Growth ."

Flow Traders Hong Kong Ltd

Flow Traders Asia Pte Ltd Flow Traders is a leading global technology-enabled liquidity provider, specialized in Exchange Traded Products (ETPs). Our trading desks in Europe, the Americas and Asia provide liquidity across all major exchanges globally, on- and off exchange, 24 hours a day. Founded in 2004, we continue to cultivate the entrepreneurial, innovative and team-oriented culture that has been with us since the beginning. Market participants benefit from higher execution quality and lower overall trading costs, while the markets benefit from greater efficiency and more transparency. Our strategies are designed to use information that is publicly available and we use fairly simple, non-controversial and transparent order types. We are a strong supporter of fair, transparent and orderly markets. We do not have a directional opinion on the markets and aim to be hedged perfectly and instantaneously. This focus on risk management is at the heart of our organization.


Optiver Australia Pty Limited

Optiver Australia Pty Limited Optiver Australia Pty Limited (Optiver) is part of the Optiver group of companies (Optiver group) which is a leading global market making group, focused on pricing and risk management.We provide liquidity to financial markets using our own capital, at our own risk, trading a wide range of products: listed derivatives, cash equities and ETFs. We strive to improve the markets and provide efficiencies for end investors. Optiver Group has offices in Sydney, Hong Kong, Shanghai, Taipei, Amsterdam, Chicago and London.

Optiver has been trading and providing liquidity in the Japanese market since 2008.

Optiver is committed to the Global ETF market and provides liquidity both on-exchange and off-exchange. In APAC, we are expanding our presence - we trade ETFs in Japan and Hong Kong. In Europe, Optiver Group has an award-winning ETF platform partnering with a diverse range of investors, including asset managers, pension funds, hedge funds and banks.

Vivienne Court Trading

Vivienne Court Trading VivCourt is a proprietary trading firm that trades globally across a wide range of financial instruments.

In Japan, we provide dedicated ETF Market Marker coverage across domestic and international equity ETFs. This coverage includes continuous bid/offer quotes on exchange and competitive pricing for counterparties trading OTC.

VivCourt sits in a foundation structure which enables us to donate 100% of our profits to the social sector.

For more information please contact our ETF team.
Phone: +61 2 9356 5113

Grasshopper Pte Ltd

Grasshopper Pte Ltd Grasshopper is a leading Singaporean proprietary trading firm providing liquidity in global markets.

We are technology-led,innovation-driven and heavily invested in developing the competencies of our people.

We are committed to facilitating a strong,sustainable ecosystem of integrity in all the financial markets we participate in.

JPMorgan Securities Japan Co., Ltd.

JPモルガン証券株式会社 JPMorgan Chase & Co. is a leading global financial service firm headquartered in New York, USA.
As a Japan local subsidiary, JPMorgan Securities Japan Co., Ltd. provides leading financial services such as investment banking, fixed income, equities and intermediary custody services and advisory within Japan.
In equities, the firm provides securities and brokerage services for both domestic and foreign stocks as well as derivatives, market making, and diversified equity investment strategies, based on client needs.The firm also provides its clients with electronic trading platforms such as direct market access and algorithmic trading.

Within the ETF business and based on our global risk management experience, J.P. Morgan provides competitive pricing on index related products by utilizing our sound balance sheet.
We also offer diverse trading plans to meet our customers' needs for large ETF transactions. Furthermore, based on competitive prices obtained through active system development and strengthening of our trading division, we provide liquidity in and outside of the market and investment opportunities to our global investors.