Tokyo Stock Exchange: Change in Schedule For Activating New Derivatives Trading System

The Tokyo Stock Exchange (TSE) has been developing the new Derivatives Trading System, aiming at activating the system in October, 2007. However, a part of the system development is delayed at the present stage.

To ensure stable system operation, the TSE will change the schedule for activating the new Derivatives Trading System to January 2008 from October 2007. The TSE will also change the implementation date for revisions to the rules and regulations (*) in line with the activation of the system.

(*) Revision to the rules and regulations:
In tandem with the operation of the new Derivatives Trading System, the TSE plans to introduce the give-up system and computerize off-auction trading pertaining to futures and options trading, and revise the ToSTNeT trading, etc.