Tick-size reform denting Japan HFT: Mitsubishi UFJ AM

While doubts over the ability of Abenomics to revive Japan’s economy have been blamed for the Nikkei 225 index’s year-to-date decline of 4.88%, trader Yasuaki Sumimoto* said Tokyo Stock Exchange reforms could be partly responsible for subdued activity. With as much as 60% of cash equity trading volume in Japan linked to high-frequency strategies, Mitsubishi UFJ Asset Management head trader Sumimoto believes high-frequency traders may have moved to the sidelines during the first tw…