VENUE FILE · filed 2026-09 · last re-checked 2026-09
Nomura FX — the liquidity layer, one venue at a time
Nomura FX plays a crucial role in the market structure by providing tier-1 FX liquidity through advanced algorithmic execution and internalisation strategies.
Nomura Holdings, Inc. (FX via Nomura Securities Co., Ltd., Japan; Nomura International plc, UK; Nomura Securities International, Inc., US) · Tokyo, Japan · evidence score 92/100
Licence, read on the register
| Regulator | Licence number | Jurisdiction | Tier | Source |
|---|---|---|---|---|
| FCA (Nomura International plc) | 124422 | UK | tier-1 | open source ↗ |
| SEC/FINRA (BrokerCheck, Nomura Securities International, Inc.) | 8-15255 | US | tier-1 | open source ↗ |
| JFSA (Japan Financial Services Agency) | not verified | Japan | tier-1 | open source ↗ |
| SEC (EDGAR, Nomura Holdings, Inc.) | 0001163653 | US | tier-1 | open source ↗ |
Tier classification follows the same scale as the retail register: tier-2 means real supervision and client-money segregation, without an investor compensation scheme — never misread it as tier-1 protection.
The claims ledger
Claims specific enough to be falsified — and the ones that remain the venue's own measurement.
- 3testable claims
- 2venue-measured claims
- 0named data centres
- Nomura utilises internally developed tools — algorithms, internalisation engines and/or smart order routers routing to external liquidity sources — acting as principal to provide the most favorable bids and offers (nomuraholdings.com FX disclosure page)
- The Nomura Securities Co., Ltd. was established 25 December 1925 as a spin-off from the Securities Department of Osaka Nomura Bank (nomuraholdings.com history/milestones)
- Nomura provides top-tier electronic execution across asset classes with multiple trading centres worldwide (nomuranow.com electronic-trading portal)
Claims we cannot verify from outside
- FX market-share / volume rankings (self-measured)
- Liquidity quality claims in disclosures (self-measured)
Perimeter and coverage
| Asset classes | Venues | Connectivity | Clients accepted | Explicitly refused |
|---|---|---|---|---|
| FX spot, FX forwards, FX swaps, NDFs, FX options | FIX, REST/API, FX algorithms / internalisation engines / smart order routers (per Nomura's own disclosure), nomuranow client portal | Banks, Institutional investors, Asset managers, Hedge funds, Corporates | Retail clients |
A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to assess than one that doesn't. The refusal list is treated here as disclosure, not as a defect.
What the desk watches next
The follow-up plan attached to this file — each item re-checked on a future pass, dated and kept falsifiable.
- Self-measured market share claims
- Age and tier of licenses