Tokyo Stock Exchange, Inc (TSE) has decided it will develop a ToSTNeT market for off-auction transactions of cash and derivatives.
This policy will go into effect as of January 15th, 2008.
Cash Market
(1) Securities available on ToSTNeT market
The following securities will be listed on the ToSTNeT market.
- Equities
- Warrants
- Preferred capital contribution securities
- Beneficiary certificates of investment trust
- Investment securities
- Foreign securities depositary receipts
- Convertible bonds (except for CBs denominated in other than JPY and issued by non-Japanese companies)
* All securities listed on the TSE auction market on January 15th, 2008 will be listed on the ToSTNeT market.
(2) Trading hour
ToSTNeT transactions for single issue trading and basket trading will be available during both auction trading hours and off auction trading hours; the trading hours for ToSTNeT transactions of single issue trading and basket trading will be from 8:20am. to 4:30pm. (from 8:20am. to 0:30pm. on half-day holidays.)
Derivatives market
Abolishment of minimum trading unit
Currently the minimum trading unit for off-auction transactions of JGB futures and options, index futures and options and equity options is 100 units, however ToSTNeT transactions will be available starting with a minimum of 1 trading unit.
