Orchid Technology specializes in high-performance, low-latency connectivity solutions for electronic trading systems operating in Japanese financial markets. JASMIN provides resilient, production-grade interfaces to Japanese exchanges, alternative trading venues, and market data services. Available as C++ libraries, gateways, and market data components, JASMIN simplifies integration with complex exchange protocols while delivering the performance, reliability, and operational transparency required by modern trading platforms.

Exchange Connectivity

JASMIN supports connectivity for trading and market data integration across major Japanese marketplaces, including:

Venue	Products
Tokyo Stock Exchange (TSE)	Equities, ETFs, REITs, Convertible Bonds
Osaka Exchange (OSE)	Index Futures, Equity Derivatives, Options, Government Bond Futures
Japannext PTS	Equities and Market Data Services
Proprietary Trading Systems (PTS) and Alternative Venues	Subject to venue-specific requirements

In addition to the above list we have worked with Tokyo Financial Exchange (TFX) and Korea Exchange (KOSCOM) in Japan and Korea, and could use our experience to provide connectivity solutions for other exchanges in a relatively short timeframe.

The JASMIN architecture is designed to adapt to evolving exchange infrastructures and protocol revisions, providing a stable integration layer that reduces development and maintenance costs.

Low-Latency Market Data Solutions

JASMIN includes high-performance market data handlers capable of processing real-time order book and trade information from exchanges and commercial market data providers.

Supported deployment models include:

• Direct exchange connectivity
• Consolidated market data services
• LSEG Workspace/Refinitiv and Bloomberg integration
• Internal publishing middleware
• FIX market data distribution
• Custom enterprise data platforms

Our solutions are designed to support algorithmic trading, smart order routing, surveillance, risk management, and real-time analytics applications.

FIX Connectivity and Trading Gateways

For firms using standard industry protocols, JASMIN can be deployed as a FIX-compliant trading gateway.

Features include:

• Order entry and routing
• Execution reporting
• Drop copy services
• Session management
• Risk and validation layers
• High-availability deployment options

This enables rapid integration of existing OMS, EMS, and trading applications without requiring direct exchange protocol development.

Exchange Simulation and Testing

JASMIN Exchange Simulators provide realistic test environments for development, certification, training, and operational readiness.

Benefits include:

• Exchange protocol simulation
• Market data replay
• Order lifecycle testing
• User acceptance testing (UAT)
• Trader training environments
• Disaster recovery exercises

Simulators help reduce implementation risk and accelerate deployment schedules while improving overall system quality.