Daiwa Capital Markets Europe Limited

What Daiwa Capital Markets Europe Limited does

Daiwa Capital Markets Europe Limited (DCME) is the wholly-owned European investment banking subsidiary of Daiwa Securities Group Inc., one of Japan's largest brokerage and financial services groups, which has been in continuous operation since 1902. DCME has maintained its London headquarters at 5 King William Street since 1965 (57 years) and operates across 20 countries through regional sales teams, syndication offices, and partner relationships. Following Brexit, the firm established Daiwa Capital Markets Deutschland GmbH (DCMD), a BaFin-regulated subsidiary in Frankfurt, to continue serving EU-based clients. The firm also owns DC Advisory, a corporate finance and M&A advisory subsidiary.

DCME operates across five core product lines: Equity (Japanese, Asian, and European equities with Execution Services leveraging AI-enhanced algorithms in major Asian markets); Fixed Income (government and credit trading and sales, MTNs and structured products, and a Japan Desk covering JGBs and Yen-denominated bonds); Investment Banking (Equity Capital Markets, Debt Capital Markets including Samurai, Uridashi, EMTNs, and ESG bonds, and Syndication with a No. 1 League Table position in Japanese SSA US$ debt for five consecutive years); Convertible Bonds (with 24-hour London–Hong Kong coverage); and Research (consistently top-three ranked by Nikkei, Institutional Investor, and Economist surveys). The underlying technology platform is a traditional institutional investment banking stack with electronic trading connectivity via Bloomberg, Tradeweb, and MarketAxess for fixed income, supplemented by AI-enhanced execution algorithms for Asian markets.

DCME generates revenue through transaction-based fees across sales, trading, and capital markets execution services, complemented by recurring research subscriptions. Its customer base comprises government entities (sovereigns, central banks, supranationals, and agencies), corporations (issuers and advisory clients), and institutional investors across the UK, Europe, Middle East, Africa, and Japan. Distribution is exclusively direct-to-institution via specialised regional sales teams, with all services restricted to professional and qualified investors. The firm does not publicly disclose pricing, and transactions are negotiated individually subject to FCA and applicable local regulatory frameworks.

Name

Daiwa Capital Markets Europe Limited

Legal name

Daiwa Capital Markets Europe Limited

Website

https://uk.daiwacm.com

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

251–500 employees

Short description

Daiwa Capital Markets Europe Limited is the wholly-owned European investment banking subsidiary of Daiwa Securities Group Inc., providing equity, fixed income, investment banking (ECM/DCM/Syndication), convertible bonds, and research services to government entities, corporations, and institutional investors across Europe, the Middle East, and Africa, with No. 1 League Table ranking in Japanese SSA US$ debt.

Ownership category

akta.pro rank

Product category

Investment Banking

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)

akta.pro secondary industry

Multi-Asset Mutual Funds & UCITS (Balanced/Allocation Funds) (FSAAAJAA)

Keywords

• Investment banking services
• Equity capital markets
• Fixed income trading
• Convertible bond sales
• Debt capital markets

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Equity Services: Equity business covering Japanese, Asian and European equities with investment advice, research, sales and trading services, and execution services for institutional investors active in Japanese and Asian markets.
2. Fixed Income Trading and Sales: Trading of Japanese government bonds (JGBs), US Treasuries, Eurozone government markets, UK Gilts, Australian Commonwealth bonds, and credit products including sovereign, supranational, and agency names. Sales to institutional investors in UK, Europe, Middle East and Africa.
3. Investment Banking: Equity Capital Markets (ECM) and Debt Capital Markets (DCM) services including IPOs, follow-on offerings, convertible bonds, Samurai bonds, Uridashi bonds, EMTNs, and Syndication services for primary debt market transactions.
4. Convertible Bonds: Market-leading convertible bond sales, trading and research with dedicated teams in London and Hong Kong providing 24-hour market coverage.
5. Research: Award-winning research covering Japanese economy, European markets (euro area and UK), and US economy, consistently rated in top three by Nikkei, Institutional Investor and Economist surveys.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Daiwa Capital Markets Europe Limited is the wholly-owned European investment banking subsidiary of Daiwa Securities Group Inc., providing integrated financial services to professional and institutional investors across equities (Japanese, Asian, European), fixed income (government and credit trading/sales), investment banking (ECM, DCM, Syndication), convertible bonds, and award-winning research. The firm operates with dedicated sales teams across the UK, Europe, the Middle East, and Africa, connecting Western investors to Japanese and Asian capital markets.

Product overview

Daiwa Capital Markets Europe Limited is an investment banking firm offering an integrated suite of financial services through its core product lines: Equity (covering Japanese, Asian, and European equities with Execution Services using AI-enhanced algos), Fixed Income (comprising Trading, Sales, Business Management, MTNs & Structured Products, and a Japan Desk), Investment Banking (including Equity Capital Markets, Debt Capital Markets, and Syndication), Convertible Bonds, and Research. The firm operates as the European hub of Daiwa Securities Group Inc., leveraging its Japanese heritage and global network to provide capital raising, brokerage, M&A advisory, and creative financial solutions to institutional clients.

Differentiator

Problem solved

Functional benefit

Brands

• DC Advisory: Corporate finance and M&A advisory services provided in Europe through a wholly owned subsidiary.

Products and services

• Equity Daiwa's equity business covering Japanese, Asian, and European equities, providing investment advice, research, sales and trading, and execution services for institutional investors. Includes sub-services for Japanese Equity, Asian Equity, European Equity, and Execution Services with AI-enhanced trading algorithms.
• Fixed Income Fixed Income operations offering excellence in Yen products, European Government Bonds, credit products, and Repo, providing best execution and innovative trade ideas to institutional investors. Includes Fixed Income Trading, Fixed Income Sales, MTNs & Structured Products, Japan Desk, and Business Management functions, with electronic trading via Bloomberg, Tradeweb, and MarketAxess.
• Investment Banking Investment Banking Division providing public and private sector clients with Equity Capital Markets (IPOs, follow-on offerings, convertible bonds), Debt Capital Markets (international bonds, Samurai bonds, Uridashi bonds, ESG/SDG bonds, EMTNs), and Syndication services for primary debt market transactions across multiple currencies (USD, JPY, AUD, Euro).
• Convertible Bonds Market-leading convertible bond sales, trading, and research with dedicated teams in London and Hong Kong providing 24-hour market coverage. Customer-driven business supporting institutional investor needs across global convertible bond markets.
• Research Award-winning research covering Japanese, Asian, and European equities, Fixed Income, and FICC markets from London, New York, and Tokyo offices. Research is consistently rated in the top three by Nikkei, Institutional Investor, and Economist surveys.
• DC Advisory Wholly owned subsidiary of Daiwa Capital Markets Europe Limited providing corporate finance and M&A advisory services in Europe.

Quantifiable outcome

• No. 1 in Japanese SSA US$ market League Tables over past five years
• +1 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• FT Nikkei UK EkidenminorOthers · 1 May 2024DCME served as a founding sponsor of the inaugural FT Nikkei UK Ekiden, a 72-mile relay race from Oxford to Windsor. The event celebrates Japanese sporting tradition and cultural exchange between Japan and UK, with proceeds going to Royal Brompton & Harefield Hospitals Charity.
• Royal Brompton & Harefield Hospitals CharityminorOthers · 18 April 2024DCME announced a one-year charitable partnership with Royal Brompton & Harefield Hospitals Charity, the UK's largest specialist centre for heart and lung conditions. The partnership aims to raise £10,000 with employees participating in fundraising activities, volunteering, and skills-sharing to support patient wellbeing, innovation, research, and an Early Careers Fund.
• HungarycoreChannel Partner/ Reseller/ Distributor · 18 February 2022DCME acted as Joint Lead Manager and bookrunner for Hungary's multi-tranche Samurai bond transaction including Green Bonds totaling JPY 75.3 billion. Daiwa has served as bookrunner on 29 out of 36 deals issued by Hungary or Magyar Nemzeti Bank in the Yen market since 1985. The transaction included 3-year conventional bonds (JPY 16.0bn at 0.45%) and 5, 7, and 10-year Green Bonds.
• NatixiscoreStrategic or Co-development Partner · 11 November 2021DCME and Natixis collaborated on the issuance and purchase of Nikkei 225 index-linked and Nikkei 225 & S&P 500 multi-index-linked Uridashi bonds. DCME purchased the Notes issued by Natixis, which were distributed to Japanese retail and institutional investors by Daiwa Securities Co. Ltd. Total issuance across denominations was JPY 1,000,000 with maturity on 15th November 2024.
• Daiwa Capital Markets Deutschland GmbH (DCMD)coreOthers · 3 September 2018DCMD is a wholly owned European subsidiary of DCME established post-Brexit to continue providing services to EU-based clients. DCMD commenced business on 3rd September 2018 and provides the same products and services as DCME, regulated by BaFin (firm ID: 149361).
• DC AdvisorycoreOthersDC Advisory is a wholly owned subsidiary of DCME providing corporate finance and M&A advisory services in Europe. It operates as part of the Daiwa Capital Markets Europe group.
• Exchange Seats and Partnerships (Asia)minorChannel Partner/ Reseller/ DistributorExecution Services desk utilizes exchange seats in Japan, Korea, Taiwan, Hong Kong, Philippines, Singapore and India supplemented by local partner relationships throughout ASEAN region and Indian subcontinent. In Europe, electronic access via partner relationships covering Middle East and Africa. North America coverage through sister company Daiwa Capital Markets America in New York and San Francisco.

Scale indicators7 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Mizuho International: European arm of Mizuho Financial Group, providing similar Japanese-anchored investment banking, fixed income, equity, and research services to European institutional clients with comparable yen product and Asia cross-border capabilities.
• Jefferies: Mid-market focused global investment bank with significant Japanese equity research and sales & trading operations in London, competing directly with DCME for institutional Japanese equity and convertible bond business.
• SMBC Nikko Capital Markets: European securities subsidiary of Sumitomo Mitsui Financial Group, competing directly in Japanese equity and fixed income sales & trading, ECM/DCM, and yen-denominated bond issuance from London.
• Nomura International: Wholly-owned European subsidiary of Nomura Holdings, the other large Japanese brokerage and investment bank with comparable ECM, DCM, sales & trading, and research franchises in London serving European institutional clients.
• Mitsubishi UFJ Securities (MUFG): European securities arm of MUFG, one of Japan's largest financial groups, offering overlapping investment banking, fixed income, equities, and structured products franchises targeting European institutional clients with Asian, particularly Japanese, focus.

Broad incumbents

• Morgan Stanley: Global investment bank with a strong Japanese equity research and sales franchise and active ECM, M&A advisory, and fixed income businesses in Europe that overlap with DCME's offerings.
• Goldman Sachs: Premier global investment bank with substantial European ECM, DCM, M&A advisory, sales & trading, and research capabilities that overlap with DCME across most institutional product lines.
• HSBC: Global universal bank with deep Asian heritage and a London-based investment banking and markets franchise that competes across DCM, ECM, research, and yen/SSA products for European institutional clients.
• Barclays: UK-headquartered global bank with a London-based investment bank competing across equities, fixed income, ECM/DCM, and SSA bond underwriting with overlap in Japanese and SSA US$ franchises.
• BNP Paribas: Major European-headquartered global bank with a substantial fixed income, equities, and investment banking franchise that competes for SSA, Japanese bond, and convertible bond underwriting mandates in London.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/follow
• LinkedInlinkedin.com/company/daiwa-capital-markets-europe-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Daiwa Capital Markets Europe Limited