Mitsubishi UFJ Financial Group is on a big drive to update its electronic trading capabilities at the same time that it¡¯s preserving old-style voice methods for dealers in Japanese government bonds (JGBs).
That¡¯s according to Stu Taylor, who has spearheaded the expansion of the electronic trading team at Japan¡¯s largest bank to more than 50 people around the world.
¡°We¡¯ve been late to the e-trading party,¡± Taylor, the bank¡¯s head of electronic trading, said in an interview. ¡°Japan has been a very relationship-based market and continues to be, but against a world of data, compliance and efficiency, that has toppled slowly.¡±
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