The Roadblocks to Investing in Innovation

(l-r) Eiichiro Yanagawa of Celent, Kenji Toyooka, Hiroshi Matsubara, Takashi Hiratsuka

It doesn't matter which part of the world you're in—when you get two rival trading firms together, there will always be a few playful jabs thrown. And in the Japanese market, which is smaller than the US and European markets, the competition runs deep. During the opening panel the Tokyo Trading Architecture Summit last week, Takashi Hiratsuka, trading group leader at Resona Bank—which competes with Nomura Asset Management—discussed how his firm went about making new investme