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TSE will introduce off-auction block trading in options on March
12, 2007.
By utilizing off-auction block trading, investors can avoid the
risk of partial implementation during strategic trading, making
more efficient transactions possible and minimizing market impact.
We at the TSE believe that we can improve usability for investors
and further enhance our options market through the introduction
of this system.
Please refer to the PDF file for the details on this system.
Outline of off-auction block trading in options
| Products | TOPIX Option | Equity Option | Options on JGB-Futures |
| Trading Hours (half-day holidays) |
8:20-16:00 (8:20-12:00) |
8:20-16:00 (8:20-12:00) |
8:20-15:10 |
| Execution prices | off-auction trading base price plus or minus 5% of the last value of TOPIX |
off-auction trading base price plus or minus 5% of the last price of the underlying stocks |
off-auction trading base price plus or minus 0.5% of the last price of the JGB Futures |
| Minimum Fluctuation | 0.1 points | Tick size for the relevant contract | 0.01 yen per face value 100 yen mil. |
| Minimum trading size |
100 trading units
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| Introduction of off-auction block trading in options |
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