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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.
TSE and the Ministry of Economy, Trade, and Industry (METI) jointly selected and announced the 2021 Health & Productivity Stock Selection. This is the seventh year that TSE and METI have recognized TSE-listed companies which have strategically carried out efforts with regard to their employees' health from a management perspective. For 2021, we selected 48 enterprises in 29 industries by assessing the responses collected through the Health and Productivity Survey based on five criteria: (1) Management principles (management awareness),(2) Organizational structure, (3) Implementation of systems and measures, (4) Evaluation and improvement, and (5) Compliance and risk management by taking into account financial indicators. TSE aims to promote health management by listed companies by introducing attractive companies for investors who place emphasis on improving corporate value from a long-term perspective.
In 2018, the European Union (EU) enforced benchmark regulation (EU Benchmark Regulation) and TSE has been proceeding with procedures to obtain approval (Recognition) from EU authorities in accordance with Article 32 of the EU Benchmark Regulation.
TSE has received approval (Recognition) and Japan's premier index series calculated and published by TSE such as TOPIX and JPX-Nikkei Index 400 are entered in the public register (Register of ESMA) of the European Securities and Markets Authority (ESMA). Stock indices entered in the register can be used for the composition of financial products in the EU even after the grace period ends at the end of 2023.
Our compliance with the EU Benchmark Regulation such as robust governance and/or controls, etc. is in line with global standards as an administrator of stock indices, and we will endeavor to continue providing highly reliable services.
TSE launched "JPX English Disclosure GATE", a web portal for English disclosures, to promote better English disclosure from listed companies and expand investment opportunities for overseas investors. The new JPX English Disclosure GATE provides information that aims to help reduce the burden for companies preparing English disclosure documents such as English disclosure form samples and a Japanese and English glossary of commonly-used terms related to English disclosure. With the aim of improving accessibility of the disclosed information to overseas investors, this website was set up to provide information such as the aggregated implementation status of English disclosures for each listed company.
On International Women's Day, March 8, Japan Exchange Group and Tokyo Stock Exchange held a "Ring the Bell for Gender Equality" ceremony in partnership with organizers the UN Global Compact, UN Women, the Sustainable Stock Exchanges Initiative, the International Finance Corporation, the World Federation of Exchanges, and Women in ETFs. Due to restrictions caused by the ongoing Covid-19 pandemic, this year's ceremony was held behind closed doors with the fewest possible participants. The bell-ringing ceremony was carried out by JPX Director & Representative Executive Officer and Group CEO Kiyota Akira, JPX Director Christina Ahmadjian, and JPX Director Kohda Main. As well as messages from the organizers, special guest the Minister in charge of Women's Empowerment, Marukawa Tamayo, contributed via a video message.
JPX launched "J-Quants", a Proof of Concept (PoC) Project in January 2021 to provide a learning environment for trading by utilizing IT and data analysis. The second data analysis competition began on March 19. In this competition as well, JPX provides real data through API and how to use them such as through productive tutorials. In the first competition (ended on March 28), a "Fundamentals Analytical Challenge" was held to analyze stock prices utilizing financial data and approximately 1,400 participants took part. In this second competition, participants will work on a "News Analytical Challenge" to create portfolios utilizing Nikkei news headlines data and timely disclosure data. Applications will be accepted by May 9 for the second coemption. We are looking forward to your participation.
TSE and the Ministry of Economy, Trade and Industry jointly select listed companies that are outstanding in terms of encouraging women's success as Nadeshiko Brand Stocks. These consist of TSE listed companies that are advancing initiatives to encourage women's participation in the workplace such as by creating environments conducive to retaining female talent. The initiative aims to garner interest toward such companies among investors and to accelerate efforts in encouraging women's advancement at listed companies. This initiative is now in its ninth year. Each year, the selection committee assesses all TSE listed companies. This year, out of approximately 3,700 companies, 45 across 27 sectors were selected through evaluation of necessary actions they have taken toward diversity-focused management in order to realize corporate value improvement, and how these actions are disclosed.
TSE established the ETF Market Making Scheme in July 2018 with the aim of improving liquidity in the ETF market. Under this scheme, market makers have been continuously showing quotes for a large number of ETFs and this has resulted in a significant improvement in liquidity for many ETFs. Therefore, in order to honor market makers who have made significant contributions to liquidity provision and to increase awareness of this scheme, TSE presented awards to outstanding ETF market makers. Three market makers with excellent performance in a very large number of ETFs have been selected as "The Best Market Makers" and market makers with stable performance in many ETFs have been selected as "The Good Market Makers". TSE remains committed to providing highly convenient trading venues for investors.
The failure of the cash equity trading system on Oct. 1, 2020 revealed not only issues with the IT system itself but also that rules and procedures for resumption after trading suspension were not in place. To give these issues further consideration, TSE established the Council for Recurrence Prevention Measures and a Specialist Working Group with a variety of market participants such as securities companies, investors, and system vendors. The result of these discussions has been summarized and published in the report. Moving forward, we aim to verify the viability of the established rules and procedures and make improvements with market participants through failure drills and make efforts to improve resilience of the markets.