Market Making Incentive Scheme
ETF Market Making Scheme Version 2.0
ETF Market Making Scheme Version 2.0 is to develop ETFs which represent each asset classes. To that end, TSE will set limited-time incentives and obligations and ask market makers to display continuous quotes of JPY 100 million to 1 billion.
Liquidity for the eligible ETFs (*1) is expected to further improve thanks to supplying of additional orders in a limited time, making it possible to trade instantly at a low cost even for relatively large transactions.
| Index |
Code |
Issue Name |
Obligation (*2)(*3) |
| TSE REIT |
1343 |
NEXT FUNDS REIT INDEX ETF |
50 mil. JPY/0.3% |
| 1345 |
Listed Index Fund J-REIT (Tokyo Stock Exchange REIT Index) Bi-Monthly Dividend Payment Type |
| 1595 |
NZAM ETF J-REIT Index |
| S&P500 |
1547 |
Listed Index Fund US Equity (S&P500) |
100 mil. JPY/0.2% |
| 1655 |
iShares S&P 500 ETF |
| 2558 |
MAXIS S&P500 US Equity ETF |
| 2521 |
Listed Index Fund US Equity (S&P500) Currency Hedge |
| 2563 |
iShares S&P 500 JPY Hedged ETF |
| NASDAQ100 |
1545 |
NEXT FUNDS NASDAQ-100(R) Exchange Traded Fund |
100 mil. JPY/0.3% |
| 2568 |
Listed Index Fund US Equity (NASDAQ100) No Currency Hedge |
| 2631 |
MAXIS NASDAQ100 ETF |
| Dow Jones Industrial |
1546 |
NEXT FUNDS Dow Jones Industrial Average Exchange Traded Fund |
| 2562 |
Listed Index Fund US Equity (Dow Average) Currency Hedge |
| MSCI Kokusai |
1680 |
Listed Index Fund International Developed Countries Equity |
100 mil. JPY/0.2% |
| 2513 |
NEXT FUNDS International Equity MSCI-KOKUSAI (Unhedged) Exchange Traded Fund |
| 2514 |
NEXT FUNDS International Equity MSCI-KOKUSAI (Yen-Hedged) Exchange Traded Fund |
| MSCI Emerging |
1681 |
Listed Index Fund International Emerging Countries Equity |
100 mil. JPY/0.4% |
| 2520 |
NEXT FUNDS Emerging Market Equity MSCI-EM (Unhedged) Exchange Traded Fund |
| MSCI ACWI ex Japan |
1554 |
Listed Index Fund World Equity (MSCI ACWI) ex Japan |
| US Treasury 5-10 years |
1486 |
Listed Index Fund US Bond (No Currency Hedge) |
500 mil. JPY/0.2% |
| 1487 |
Listed Index Fund US Bond (Currency Hedge) |
| US Treasury 1-5 years |
2620 |
iShares 1-3 Year US Treasury Bond ETF |
100 mil. JPY/0.15% |
| US Treasury over 10 years |
2621 |
iShares 20+ Year US Treasury Bond JPY Hedged ETF |
100 mil. JPY/0.25% |
| FTSE WGBI |
2511 |
NEXT FUNDS International Bond FTSE World Government Bond Index (ex Japan Unhedged) Exchange Traded Fund |
100 mil. JPY/0.4% |
| 2512 |
NEXT FUNDS International Bond FTSE World Government Bond Index (ex Japan Yen-Hedged) Exchange Traded Fund |
(*1) All of the conditions are from April 2021 to March 2022. TSE will announce updates after April 2022 by March 17, 2022.
(Depending on the result, extention will be examined.)
(*2) In foreign index, obligation (spread) is predetermined bps or 2ticks, whichever is wider.
(*3) Quoting time period for “US Treasury 5-10 years” is 60%. 80% is applied to other indices.
Enquiry
Tokyo Stock Exchange, Inc. Equities Department
TEL:Tel: +81-3-3666-0141
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