JPX Monthly Headlines

TSE conducted a survey of overseas institutional investors and others on English disclosure for the purpose of providing materials to enhance English disclosure efforts by listed companies in Japan and has compiled a summary of the survey results. This survey found that the demand for English disclosure is high among overseas institutional investors, with 80% of respondents answering that they need disclosures in English for earnings reports, and 74% saying the same for IR presentation materials. In addition, many overseas institutional investors pointed out that insufficient English disclosure affects dialogue with listed companies and/or investment decisions. Strong expectations are placed on further progress for English disclosure from the perspective of promoting constructive dialogue and expanding investment in Japanese companies.

On September 21, 2021, Osaka Exchange (OSE) and Tokyo Commodity Exchange (TOCOM) successfully launched the new derivatives trading system, J-GATE3.0. At the same time, listings of new products (CME Group Petroleum Index Futures, Nikkei Total Return Index Futures (only Flexible Futures available)) and revisions of trading rules such as expanding trading hours were also carried out. In addition, the J-GATE3.0 backup function was transferred to the Kansai Data Center. The current JPX backup facilities in the Kanto region will gradually be relocated to the Kansai backup center. Our efforts to improve the resilience of the JPX market utilizing the hub in Osaka are now in full swing.

JSCC has been awarded Clearing house of the year in the Asia Risk Awards 2021, sponsored by Asia Risk magazine. The award is given to a clearing house that is recognized as pursuing innovative initiatives and implementing best practices in derivatives markets. JSCC has received the award for its achievements for the third time, following similar accolades in 2013 and 2019. JSCC received the award in recognition of the revision of its risk management framework and loss compensation framework in the Listed Derivatives Clearing Service, as well as the expansion of its clearing services to cover commodity derivatives following the clearing function integration with Japan Commodity Clearing House (JCCH). While continuing to strengthen basic functions as a central counterparty (CCP), through sophistication in risk management and improvement in convenience and security of clearing and settlement, JSCC will continue providing clearing services that meet new needs by accurately identifying the needs of our users.