Name And Logo For Tokyo Stock Exchange Derivatives Market

Tokyo Stock Exchange, Inc. (TSE) has decided on the name and logo for the Tokyo Stock Exchange Derivatives market. This name and logo is designed to widely raise the profile of the TSE Derivatives market amongst investors, and will be used as a symbol of the TSE Derivatives market in a variety of mediums in the future.

“Tdex” is the name for the TSE Derivatives market. It combines “T” for Tokyo, which is a core area for finance in Asia, “de” for Derivatives, and “x” for Exchange. “Tdex” is a vibrant name designed to be easy to remember for investors in Japan and abroad, as well as the general public.
The logo incorporates the “T” and “D” of “Tdex”, and uses the TSE’s trademark red and black colors. The swinging arc of the “D” represents the potential strength of the TSE Derivatives market, and the flat extending white line symbolizes this strength continuing into the future. Additionally, the black parts of the logo form the beams of a house symbolizing the Japanese economy, and with the logo’s square formation express the stability and reliability of the TSE market.

The TSE Derivatives market has been growing by leaps and bounds year after year, and with the new derivatives trading system to be introduced in January 2008, the TSE will ensure system stability even further. Along with the introduction of this new system, the TSE will also introduce the give-up system and revise futures and options specifications. The TSE will strive to expand our market even further by considering the introduction of new products and other ways to meet the needs of investors in the future.

Trading volume of TOPIX futures has been increasing since 2000 and set a new record every year since 2002. In 2006, annual trading volume reached 14,907,723 contracts (daily average: 60,112 contracts).
In addition, open interest of TOPIX futures reached 369,690 contracts as of the end of 2006 and far exceeds that of Nikkei 225 futures.

Trading volume of JGB futures has been increasing since 2003 and annual trading volume reached 12,049,979 (100 million yen) (daily average: 48,589 (100 million yen)) in 2006. On June 7th, trading volume set a trading day record-high of 211,110(100 million yen).
In addition, trading volume of options on JGB futures has been on an upward trend in recent years, with annual trading volume reaching 2,060,624 contracts in 2006.