.jpg)
On January 23, 2009, we, the Tokyo Stock Exchange (TSE), conducted a survey regarding 10-Year JGB Futures Trading to receive opinions and comments from the TSE trading participants and investors, in order to improve the 10-Year JGB Futures market. The TSE has collected opinions and comments from the participants, etc., which it will publish (see appendix), and has discussed actions to be taken with regard to those results.
In the survey, the TSE received various opinions and requests from the participants with regard to analysis of current market conditions, improvement of the market framework and to the specifications of the 10-Year JGB Futures, improvement of the functioning of the current derivatives trading system, and requests to introduce the new trading system for options (the Tdex+ system). The TSE will continue to discuss the actions it should take based on these opinions, comments, and requests. The TSE will especially continue to consider improvements to the specifications of the 10-Year JGB Futures as a medium - long term task, while looking closely at the condition of the market. The TSE will also hold adequate discussions with the participants on the improvement of the present derivatives system and the Tdex+ system.
We deeply appreciate your candid opinions and kind cooperation with the aforementioned survey. The TSE will continue to work to revitalize and improve the convenience of the TSE derivatives trading market, with respect to the feedback received from the participants.
| (appendix) The results of "Survey regarding 10-Year JGB Futures Trading" |  |
