As of today, Tokyo Stock Exchange, Inc. (TSE) has signed an MOU with Authentic Indication, K.K. which works in improving the execution environment for block trades through provision of IOI* services.
By using the IOI platform provided by Authentic Indication, investors can research demand for block trades without disclosing their own demands to other market participants. When a counterparty is found, orders can be executed on the ToSTNeT market at the mid-price within the TSE auction market at that time. This approach minimizes market impact and preserves the confidentiality of the involved parties.
Through supporting these initiatives, TSE aims to further improve the convenience of market users.
* IOI (Indication of Interest) is a method by which investors who wish to buy or sell a certain amount of stock indicate their interest in trades and search for a counterparty.
Overview of Authentic Indication
Authentic Indication is a Japanese startup that began operations in 2022, providing IOI services for Japanese stocks. Authentic Indication offers a highly confidential IOI platform using advanced encryption technology. No dedicated terminals are required, and it can be accessed via the internet free of charge (a fee is charged only when orders are executed).
