JPX Monthly Headlines

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.


Publication of JPX Report 2017

JPX has published JPX Report 2017 to allow stakeholders and the general public to learn more about the corporate value of our entire group, offering not only financial data but also comprehensive, non-financial information such as our corporate philosophy, social raison d'etre, and our initiatives toward sustainable corporate development. We hope this report helps people deepen their understanding of JPX.

Related pages

Sep. 14: Publication of Working Paper on DLT and Joint PoC

JPX published JPX Working Paper Vol. 20: The Trend of Exploring the Use of Distributed Ledger Technology in the Capital Market, which was compiled from the results of research and analysis on applicability of blockchain or distributed ledger technology (DLT) to capital market infrastructure.
We also set up a dedicated website that introduces efforts of a consortium for proof of concept (PoC) testing established in March 2017. In the consortium’s testing environment, two joint PoCs have commenced for applying blockchain or DLT in trade confirmation (project owner: Daiwa Securities Group Inc.) and applying blockchain technology in KYC/AML operations (project owners: NEC Corporation, SBI BITS Co., Ltd., and SBI Holdings, Inc.).

Sep. 18: 10th Anniversary of Stock Index Futures and Options Nighttime Trading

OSE is celebrating the 10th anniversary of the nighttime trading of stock index futures and options.
Since nighttime trading of stock index futures and options started on September 18, 2007, the trading hours have been extended to adapt to growing investor needs.
In July 2016, trading was made available until 5:30 a.m. (JST) along with the launch of the new derivatives trading system.
With the globalization of the Japanese stock market, many investors are using the nighttime trading hours as a risk hedging tool. As a result, the nighttime market has grown substantially over the past decade, and the trading volume during the night session is currently poised to account for approximately 40 percent of that of the whole day.

Sep. 21: OSE Wins Exchange of the Year - Derivatives Award

OSE won the award for "Exchange of the Year - Derivatives" at FOW (Futures & Options World) and Global Investor magazines’ The Asia Capital Markets Awards 2017. This award is presented to the most active derivatives exchange in Asia.
The award recognizes not only OSE’s successful launch and new functionalities of trading platform New J-GATE in July 2016, but also the simultaneously adoption of extended trading hours and expanded trading opportunities in the form of new products, such as TSE Mothers Index Futures
OSE remains committed to its mission of improving market liquidity and price discovery through further introduction of highly convenient systems and services.

Efforts to Standardize Stock Trading Units

TSE and other domestic stock exchanges have been pushing to transition from trading units of varying sizes to a single trading unit of 100 shares for the purpose of improving market convenience for investors.
On September 27, the number of shares in a trading unit for 357 issues, such as those of Sharp Corporation, Mitsubishi Heavy Industries, Ltd., and ANA HOLDINGS INC., was changed to 100.
There are about 200 companies that still trade in 1000-share units. However, these listed companies are also scheduled to transition to the 100-share trading unit by October 2018.

Sep. 27: Introduction of Flexible Options

OSE announced that it would introduce Flexible Options, as a new listed options trading method, for securities options trading and index options trading.
After the global financial crisis, under international agreements, regulators in Japan and other countries have moved forward in adopting rules for OTC derivatives, encouraging the need to trade standardized derivatives on the exchange.
Flexible Options allows flexible setting of exercise dates and strike prices to satisfy said need.
OSE will also list the TOPIX Banks Index and the TSE REIT Index, for which only Flexible Contract Months will be traded.