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Trading

Trading Hours 12:30 pm - 2:00 pm
Trading Unit JPY 50,000 in par value
Tick Size JPY 0.01
Types of Orders Limit orders only (Market orders are not available)
Daily Price Limit JPY 1
Trading Method Orders are accepted only via Target (electronic document submission system of TSE)
Trade Execution Individual auctions for each issue (price priority and time priority are applied same as stocks)
Types of Trading and Settlement Dates Regular transactions (T+1)
Settlement Settlement through BOJ-NET
  • Trading Auction through the trading system was abolished as of November 18, 2011. Orders are accepted by Target.
  • Matching is conducted through individual competitive trading based on "Principle of price priority" and "Principle of time priority".