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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.
The JGB settlement cycle was shortened from T+2 to T+1 on May 1, 2018.
JSCC introduced Subsequent Collateral Allocation Repos, where JSCC will allocate Collaterals of repo transactions, which used to be conducted between participants. This allows same-day settlement (T+0) for repo transactions, which was a prerequisite for T+1 JGB settlement. Clearing and settlement of Subsequent Collateral Allocation Repos shall be set to occur three times a day instead of the previous once a day.
OSE decided the launch date of Flexible Options as June 25, 2018. Flexible Options is a new listed options trading method. 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 derivatives listed on the exchange. Flexible Options allows flexible setting of exercise dates and strike prices to satisfy said need. The eligible contracts are Securities Options and existing Index Options. In addition, OSE will list TOPIX Banks Index Options and TSE REIT Index Options, for which only Flexible Contract Months will be traded.
NEXT FUNDS MSCI Japan Empowering Women Select Index Exchange Traded Fund (ETF) has been listed. The ETF is linked to the share price index comprising leading Japanese companies that encourage women's success in the workplace. At the listing ceremony, Ms. Seiko Noda, Minister in charge of Women's Empowerment, delivered her congratulatory remarks and rang the bell.
JPX will engage in ongoing efforts to promote investment in companies that are improving environment, social and governance.
Nikkei 225 Futures and TOPIX Futures mark their 30th year this coming September. Throughout the year, OSE is actively engaged in a number of initiatives and festivities, even launching a dedicated website for local investors, to raise awareness of and spark interest in the derivatives market.
These activities will also span the globe with seminars to be held in Singapore and Sydney, Australia for overseas investors in September and in Tokyo and Osaka for retail investors in November with the aim of generating more momentum for futures and options trading.
OSE showcases on-demand webinars (only in Japanese) about futures and options in a special section on the JPX website. To respond to recent growing interest in options trading among general investors, OSE has decided to also offer offline information on the topic and will be holding a five-part interactive seminar. Each session takes a different approach to allow investors to learn the appeal and usage of options trading and understand the systematic rationale involved in such trading.
The Working Group on Shortening Stock Settlement Cycle (WG), for which TSE and JSCC and JSDA act as its secretariat, has worked on realization of shortening stock settlement cycle in Japan (change of settlement cycle to T+2).
On May 28, through deliberation at the Council on Securities Delivery and Clearing/Settlement Systems Reform, which is the upper body of the WG, it was decided that the scheduled implementation date of the T+2 settlement cycle is July 16, 2019 (trade date basis).
The WG will continue considering what needs to be done for a smooth transition to T+2 settlement.
TSE and the Ministry of Economy, Trade and Industry (METI) jointly selected and announced the 2018 Competitive IT Strategy Company Stocks.
Competitive IT Strategy Companies refer to TSE listed enterprises that proactively engage in efforts for IT utilization to improve management innovation, earnings, and productivity with the aim of enhancing mid-to-long term corporate value and fortifying competitiveness. Companies from various industrial sectors are selected and showcased to the public.
This is the fourth year that TSE and METI are involved in this initiative, receiving a record number of 491 entries out of which 32 enterprises were selected from 22 sectors.
TSE hopes this initiative will contribute to expanding the range of people interested in stock investment.
