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JPX group companies undertake various initiatives and disseminate information with the aim of providing the most attractive markets to all users.
Every month, we showcase the highlights of these efforts in short and concise summaries just for you.
On February 28, JPX-R and TSE announced that they decided to take the groundbreaking move of applying artificial intelligence (AI) to market surveillance operations.
Tests to verify the effectiveness of applying AI technologies developed respectively by NEC and Hitachi to preliminary investigations revealed that AI was highly accurate in determining the possibility of unfair trading. The technologies are expected to facilitate even more in-depth and detailed investigations and contribute to the fairness of the JPX market.
We will continue to work toward the actual application of AI to market surveillance in FY2017.
On February 28 in Tokyo and March 8 in Osaka, JPX-R held a seminar for listed companies on how to improve measures to address corporate scandal. As its guest speakers, Professor Shuya Nomura of Chuo Law School and Commissioner Yasushi Hamada of Securities and Exchange Surveillance Commission delivered lectures entitled "Responding to Corporate Scandals: The Difference between Success and Failure" and "Window-dressing and Internal Control System", respectively. With 950 people including mainly directors and auditors in attendance, the lectures focused on how to develop effective system of governance and internal control, including measures to prevent corporate scandal and post-event response.
On March 13, TSE launched the new JPX-Nikkei Mid and Small Cap Index with Nikkei. This new index applies the concept of an index that comprises highly attractive listed companies to mid and small cap equities, leading to the further development and vitality of Japan's securities market. Our staff promoted the features of this attractive index in a program via webcast.
(Only in Japanese)
On March 14, JPX and the Saudi Stock Exchange (Tadawul) signed a comprehensive memorandum of understanding (MOU). Under the MOU, JPX and Tadawul will build a closer relationship through the exchange of information in areas of mutual interest and assist each other in market development. The two exchanges will also explore cooperation opportunities across a broad range of areas, including product development, cross-listing, joint marketing and promotion, and financial education.
On March 21, TSE replaced ToSTNeT System to improve processing capabilities and convenience. This replacement augmented capacity and improved processing. TSE also relaxed rules for basket trading, which allows stocks and REITs to be traded in a single basket. The user burden for system modifications was minimized by applying previous system connection specifications.
On March 21, JPX held a concert in Ginza Yamaha Hall in Tokyo. This event was planned for the first time to express our gratitude, promote the JPX group, and raise awareness of asset formation. A string quartet played music for a 300-person audience, including those who were selected to attend by drawing.
Aiming to recognize outstanding enterprises in encouraging women's success in the workplace, the Ministry of Economy, Trade and Industry and TSE jointly selected 47 companies as the FY2016 Nadeshiko Brands and held an announcement event, which was hosted by TV/radio personality Keiko Kojima. The Nadeshiko Brand Initiative introduces TSE listed companies that are outstanding in terms of encouraging women to stay in the workplace by improving the working environment. This initiative is now in its fifth year, and 47 companies across 26 industries were selected. The government regards promotion of women's participation in society as a core initiative under Japan's growth strategy. We hope the introduction of Nadeshiko Brands will accelerate such companies' efforts.
On March 31, the JPX group updated its 2nd Medium-Term Management Plan to focus on the following seven points:
Satisfying Diverse Investor Needs and Encouraging Mid- to Long-term Asset Building
(1) Enhance efforts in such areas as financial literacy through various initiatives
(2) Promote necessary improvements to trading environment through the introduction of a market-maker system and enhancement of the product lineup of ETFs, and study measures to promote operational efficiency in back-office for ETF creation/redemption. Also, diversify products such as by listing financial products linked to JPX-Nikkei Mid and Small Cap Index.
(3) Strengthen efforts to expand the investor base for derivatives trading
Supporting Listed Companies in Enhancing Corporate Value
(4) Encourage disclosure in English and develop environment to disclose non- financial information
Fulfilling Social Mission by Reinforcing Market Infrastructure
(5) Strengthen risk management for stable market operations
(6) Prepare for smooth introduction of new registration scheme for high-speed trading, which is expected to be adopted early next year, by sharing information with related parties and developing a market monitoring and surveillance system
Creating New Horizons of Exchange Business
(7) Promote research and study towards utilization of Blockchain technology and AI