Taking into consideration this increase, beginning on Wednesday, January 18, Tokyo Stock Exchange (TSE) has 1) requested that all investors and concerned parties to consolidate orders, 2) delayed the opening of afternoon trading, and 3) adopted the policy of suspending trading should orders or executions exceed a predetermined number.
Based on these circumstances and upon conferring with the Japan Securities Clearing Corporation (JSCC), who conducts clearing services for trades made, TSE will conduct system testing this weekend (1/21 - 1/22) in response to augmentations made to the current clearing system's processing capacity.
1. Regarding tests related to augmentation of system processing
capability
On Saturday, January 21st and Sunday, January 22nd, tests will be performed to augment the processing capacity of the current clearing system (increase of the current processing capacity from 4.5 million to 5 million).
If stable function is confirmed upon testing, the system will be operated at post-augmentation processing capacity on Monday, January 23; however, if stable function is unable to be confirmed, the system will continue to be operated at the current processing capacity. Also, should the latter occur, processing capacity will still be augmented to the same level planned for this current capacity augmentation through the activation of the next-generation clearing system scheduled for Monday, January 30.
2. Handling during a sharp increase in executions
Should augmentation of the current clearing system's processing
capacity proceed according to schedule, TSE anticipates that increasing
the number of executions at which trading will be suspended (currently
trading will be suspended should the number of executions exceed
4 million) to 4.5 million will become possible.
3. Other
Results of the test, as well as handling protocol from Monday,
January 23rd will be announced on Sunday, January 22nd.
Additionally, the above measures notwithstanding, there will be no change with respect to the delay of opening of the afternoon trading session (which currently starts at 1 p.m.) nor the number of orders at which trading will be suspended (currently 8.5 million) for the time being.
We also request that all orders placed at TSE continue to be consolidated as much as possible.
We sincerely apologize to all investors and concerned parties for the inconvenience caused due to these measures, and ask for your continued kind cooperation.
Taizo Nishimuro
Chairman and CEO
Tokyo Stock Exchange
This English version announcement is not an officially accurate translation of the original Japanese announcement. In the case where any differences may occur in the English version, the original Japanese announcement will prevail. TSE shall not accept any responsibility for damages caused by any errors, inaccuracies, misunderstandings or misspelling with regard to the translation of the announcement. This announcement may be used only for reference purposes. Tokyo Stock Exchange, Inc. maintains the right to claim compensation from violators for any damages it may suffer from the violation of these conditions.
