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Dharmacapital moves entire workforce from Tokyo to Singapore
The relocation, completed earlier this month, is meant to improve access to global markets while Dharmacapital continues providing liquidity in Japan.
Japanese high-frequency trading firm Dharmacapital has relocated its entire workforce from Tokyo to Singapore, underscoring intensifying competition among Asian financial centers for trading talent and market-making business, according to Hedgeweek.
The move was completed earlier this month, and the firm’s Singapore entity will serve as its operating base, though Japan remains its largest market.
Dharmacapital’s Singapore chief executive Akiyoshi Shiotani said the relocation was primarily intended to improve access to global markets, while the company will continue providing liquidity to Japanese markets and supporting trading efficiency there.
The report also notes Dharmacapital is the only high-frequency trading firm based in Tokyo among 53 entities registered to participate in Japanese markets as of July, while many major international peers, including Citadel Securities, Virtu Financial and Jane Street, run Asian trading businesses from Singapore or Hong Kong rather than Tokyo.