Japan’s only high-speed trading firm, Dharmacapital, relocates all staff to Singapore earlier this month, according to people familiar with the matter. The move leaves Tokyo with no such firms operating out of the city, the Bloomberg report says.
Other coverage discusses why high-speed firms may choose to operate elsewhere. The Japan Times attributes the decision to factors including comparatively high income tax rates and practical issues such as language barriers, which some finance professionals say can make Japan’s capital less attractive for certain trading operations. While the outlet frames these points as commonly cited considerations rather than attributing them directly to Dharmacapital’s decision, it aligns with the broader theme of competitive and operational differences between locations.
Together, the reports indicate a shift in where high-speed trading expertise is based, with Dharmacapital’s relocation as the immediate development and tax and accessibility factors as part of the context cited by market participants.
