Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Tokyo Stock Exchange - Announcements Of Short Selling Data

Date 05/04/2002

Recent revisions at TSE have included the decision to publicly announce data figures on short selling on TSE. A description of how these announcements will be made follows below.

1. Contents of the announcements

Public announcements on monthly trading volumes will be required for short selling with regulated stock prices (see 1 below) and short selling without regulated stock prices (see 2 below). This new rule will cover short selling for all of TSE's markets excluding its foreign market. Furthermore, when revisions are made after the figures are announced, those revisions will not be reflected or readjusted in the original report published by TSE.

1) Short selling with regulated stock prices covers short selling of borrowed stocks and the like (transactions outside of those designated by all sections of Article 3 of the Cabinet ordinance on equity short sales).
2) Short selling without regulated stock prices includes margin transactions and the like (transactions designated by all sections except section 1 of Article 3 of the Cabinet ordinance on equity short sales).

2. Date of announcement

Data for a certain month will be announced through TSE's website on the 20th of the following month. When the 20th falls on a holiday, the data will be announced on the next business day.

3. First announcement

The first release of monthly data on short selling will take place on April 22 and will cover data for the month of March, 2002.

Period
Orders
Short selling with regulated stock prices
Short selling without regulated stock prices
Total
Month/Year
Trading Value
% of Total
Trading Value
% of Total
Trading Value
% of Total







4. Notes

Monthly trading value figures for short selling are calculated by summing the total of the daily trading value figures and do not include buy-back shares. Furthermore, these figures are not indicative of the open position of short sales at the end of each month.