The Tokyo Stock Exchange Inc. (TSE) has been working to improve its trading rules in order to enhance the convenience and transparency of the cash market, including the introduction of a closing auction session, the extension of trading hours, and optimization of tick sizes.
With a certain amount of time having passed since the introduction of these rules, TSE established a Working Group composed of a variety of market stakeholders last October. This group discussed the following topics based on evaluations of the rules' effectiveness since introduction, feedback from market stakeholders, and other information.
<Topics Discussed>
①Improving the Closing Auction Session
②Further Optimization of Tick Sizes
Based on the discussions held within the Working Group, we hereby publish the "Report From the Working Group on Trading Rules" as set out below.