Guidelines for Listing (ETFs)
ETF Listing Criteria
The listing examination criteria, timely disclosure criteria, delisting criteria, and fees pertaining to listing when an ETF lists is explained in the "Guidelines for Listing Foreign ETFs/Foreign Spot Commodity ETFs".
| Guidelines for Listing Foreign ETFs/Foreign Spot Commodity ETFs |  |
|---|---|
| Guidelines for Listing ETF-JDRs | |
- The documents required for foreign ETFs/foreign spot commodity ETFs listing application are as below.
- Abbreviations for regulations are as follows:
Regulations: Securities Listing Regulations
Enforcement Rules: Enforcement Rules for Securities Listing Regulations - Downloading forms is possible by clicking the Word file on the right.
Listing Applications pertaining to Foreign ETFs/Foreign Spot Commodity ETFs, etc.
| No. | Type | Documents for Submission | Hard Copy | No. of Copies | Deadline | Basis for Submission | Format | Down load |
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|---|---|---|---|---|---|---|---|---|---|---|
| Trust | Corpo ration |
Commo dity |
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| 1*1 | ✔ | ✔ | ✔ | ETF Listing Contract(Form 4-2) | ✔ | 1 | Business day preceding listing approval date | Rule 1102, Paragraph 1 of the Regulations and Rule 1101 of the Enforcement Rules | Specified by TSE |
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| (Reference translation) *Submissions shall be in Japanese. | - | |
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| 2 | ✔ | Application Form for Initial Listing of a Security (Foreign ETF) | ✔ | 1 | Listing Application Date | Rule 1103, Paragraph 1 of the Regulations | Specified by TSE |
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| ✔ | Application Form for Initial Listing of a Security [Foreign Investment Securities] | - | - | |||||||
| ✔ | Application Form for Initial Listing of a Security [Foreign Spot Commodity ETF] | - | - | |||||||
| 3 | ✔ | Notice of Correction to Application Form for Initial Listing of a Security (Foreign ETF) | ✔ | 1 | When correcting Application Form for Initial Listing of a Security | Rule 1103, Paragraph 1 of the Regulations | Specified by TSE |
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| ✔ | Notice of Correction to Application Form for Initial Listing of a Security [Foreign Investment Securities] | - | - | |||||||
| ✔ | Notice of Correction to Application Form for Initial Listing of a Security [Foreign Spot Commodity ETF] | - | - | |||||||
| 4 | ✔ | ✔ | ✔ | Written Oath Regarding ETF Applying for Initial Listing (Form 4-5) | ✔ | 1 | Listing Application Date | Rule 1103, Paragraph 1 of the Regulations and Rule 1102, Paragraph 2 of the Enforcement Rules | Specified by TSE |
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| (Reference translation) *Submissions shall be in Japanese | - | |
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| 5*2 | ✔ | ✔ | ✔ | Documents provided in the following items a through d related to the indicator: a. A list of securities comprising the index; b. The procedure for computation of the index; c. A document stating the changes in securities comprising the index from three (3) years preceding the date of initial listing application; d. A document stating the basic information such as the corporate identity, etc. of the entity calculating the indicator; provided, however, attachment is not required where such calculating entity is a calculating entity for an indicator pertaining to a listed ETF. |
1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Paragraph 1, Item 1 of the Enforcement Rules | - | - | |
| 6 | ✔ | Confirmation Items for Initial Listing Application [Foreign ETF] | 1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 2 and Item 2-2 of the Enforcement Rules | Reference | |
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| ✔ | Confirmation Items for Initial Listing Application [Foreign Investment Security] | - | - | |||||||
| ✔ | Confirmation Items for Initial Listing Application [Foreign Spot Commodity ETF] | Reference | |
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| 7*3 | ✔ | ✔ | ✔ | Confirmation Document by a Management Company according to the Provisions of Rule 1104, Paragraph 1, Item 3 of the Regulations (Understanding and Disclosure of Information regarding a Trustee) | ✔ | 1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 3 of the Enforcement Rules | Reference | |
| 8*4 | ✔ | Confirmation Document by a Trustor according to Rule 1104, Paragraph 4, Item 1-3 of the Regulations (Responding to Exchange Inquiries) | ✔ | 1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 3-2, Sub-item a of the Enforcement Rules | - | - | ||
| 9 | ✔ | Confirmation Document by a Management Company according to the provisions of Rule 1104, Paragraph 4, Item 4 (including cases according to Paragraph 5, Item 1 and Paragraph 6 of the same rule) of the Regulations (Trust Assets) | ✔ | 1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 3-2, Sub-item b of the Enforcement Regulations | - | - | ||
| 10 | ✔ | Confirmation Document by a Management Company according to the Provisions of Rule 1104, Paragraph 5, Item 3, Sub-item a (including cases according to Paragraph 6 of the same rule) of the Regulations (Management of Trust Assets, etc.) | ✔ | 1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 3-2, Sub-item c of the Enforcement Rules | - | - | ||
| 11*7 | ✔ | ✔ | ✔ | General conditions for investment trusts, general conditions for trusts , or a document similar thereto, or the terms and conditions or a document similar thereto | 2 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 4 of the Enforcement Rules | - | - | |
| 12 | ✔ | ✔ | ✔ | Legal opinion from a legal expert concerning the lawfulness of the creation or issuance of a foreign ETF or foreign spot commodity ETF and the relevant laws and regulations | 1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 5, Sub-item a of the Enforcement Rules | - | - | |
| 13 | ✔ | ✔ | ✔ | Document proving that the representative stated in the Application Form for Initial Listing of a Security is a person with due authority concerning the listing of such foreign ETF or foreign spot commodity ETF | ✔ | 1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 5, Sub-item b of the Enforcement Rules | - | - |
| 14 | ✔ | ✔ | ✔ | Document proving that agent, etc. of the management company or a foreign investment corporation has been selected, or that an informal consent of undertaking has been received from such agent, etc. | ✔ | 1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 5, Sub-item c of the Enforcement Rules | - | - |
| 15 | ✔ | ✔ | ✔ | Copy of the document proving that the approval, authorization, permission, notification or similar requirement concerning creation or issuance of such foreign ETF or foreign spot commodity ETF have been obtained pursuant to the laws and regulations of the country where the foreign ETF or foreign spot commodity ETF was created | 1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 5, Sub-item d of the Enforcement Rules | - | - | |
| 16 | ✔ | ✔ | ✔ | Copy of the document proving the applications from trading participants prescribed in Rule 32-2, Paragraph 1 of the Enforcement Rules for Business Regulations pertaining to the foreign ETF and foreign spot commodity ETF | ✔ | 1 | Listing Application Date | Rule 1103, Paragraph 2 of the Regulations and Rule 1103, Item 5, Sub-item e of the Enforcement Rules | - | - |
| 17*5 | ✔ | ✔ | ✔ | Documents submitted by the management company (foreign investment company in cases of a foreign ETF which fall under foreign investment securities) according to the provisions in Rule 1103, Paragraph 3 of the Regulations | Re marks |
Remarks | Rule 1103, Paragraph 3 of the Regulations and Rule 1104 of the Enforcement Rules | - | - | |
| 18*7 | ✔ | ✔ | ✔ | Securities Report (Draft) | 2 | Listing Application Date | Rule 1103, Paragraph 4 of the Regulations | - | - | |
| 19*6 | ✔ | ✔ | ✔ | Written Confirmation Certifying that the Applicant has No Ties to Any Criminal Element | ✔ | 1 | Listing Application Date | Rule 1103, Paragraph 4 of the Regulations | Reference | |
| 20 | ✔ | ✔ | ✔ | Outline of Commodities (Draft) | 1 | Listing Application Date | Rule 1103, Paragraph 4 of the Regulations | - | - | |
| 21*7 | ✔ | ✔ | ✔ | Written Confirmation of Cooperation in operations with regard to Loan Trading | ✔ | 2 | By Listing Approval | - | - | - |
| 22 | ✔ | ✔ | Report pertaining to the management system, etc. related to an indicator-tracking securities, etc. incorporated ETF | 1 | Immediately following Listing Approval | Rule 1103, Paragraph 6 of the Regulations | - | - | ||
| 23 | ✔ | ✔ | Notification of Finalization of Entrusted Units for Listing Application Security | 1 | Promptly after finalization | Rule 1103, Paragraph 1 of the Regulations | - | - | ||
| ✔ | Notification of Finalization of Entrusted Units for Listing Application Security [Foreign Investment Security] | - | - | |||||||
- The required documents are different for foreign ETFs which fall under foreign investment trust beneficiary certificates, foreign ETFs which fall under foreign investment securities, and foreign spot commodity ETFs.
- In the title row, "trust" refers to foreign ETFs which fall under foreign investment trust beneficiary certificates, "corporation" refers to foreign ETFs which fall under foreign investment securities, and "commodity" refers to foreign spot commodity ETFs. The documents required for each ETF are indicated with a black circle.
- "Listing Agreements" must be submitted by both the management companies and trustees.
- Unnecessary when the entity calculating the indicator pertaining to the initial listing application issue is TSE.
- Confirmation Document by a Management Company according to the Provisions of Rule 1104, Paragraph 1, Item 3 of the Regulations" is unnecessary in cases where the management company is the trustee.
- Submission of "Confirmation Document by a Trustee according to Article 1104, Paragraph 4, Item 1-3 of the Regulations" is only required in cases where the management company is the trustor.
- For details, please refer to "4. Listing Application Documents" in the "Guidelines for Listing Foreign ETF/Foreign Spot Commodity ETF Listing".
- Written Confirmation Certifying that the Applicant has No Ties to Any Criminal Element" must be submitted by both the management company and the trustee. Additionally, submission is not required if such document has already been submitted to TSE.
- Two copies of documents are required when submitting.