ToSTNeT Market

Since its launch in 1998, the ToSTNeT (Tokyo Stock Exchange Trading NeTwork) system has offered investors a means of executing various transactions such as block trading and basket trading during off-auction hours. The main purpose of ToSTNeT has been to complement the auction market by handling orders for which smooth execution is difficult using the auction algorithms. ToSTNeT first started with single stock trading (known as block trading until September 30, 1999) and basket trading on June 29, 1998 (ToSTNeT-1), and closing price trading was introduced later on August 7 of the same year (ToSTNeT-2).

Various developments in trading technology during recent years have spurred investors' demand for increased flexibility in this system. To meet this demand, ToSTNeT was re-established as a market separate from the auction market on January 15, 2008. Trading hours were extended to cover auction market hours, and own share repurchase trading (ToSTNeT-3) was also introduced. In addition, trading rules and regulations were amended to enable a greater diversity of eligible products.

Listing

Domestic stocks, foreign stocks, ETFs, REITs and convertible bonds (CBs) listed on the auction market are simultaneously listed on the ToSTNeT market.

Trading Information Disclosure

Transaction details of each stock, the total trading volume, and the total trading value are disseminated via the TSE Market Information System.