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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 around JPY 100 million.

　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)
JPX Prime 150 2017 iFreeETF JPX Prime 150 100 mil. JPY
/2ticks or 0.2%
S&P500 1655 iShares S&P 500 ETF 100 mil. JPY
/2ticks or 0.2%
2563 iShares S&P 500 JPY Hedged ETF
NASDAQ100 1545 NEXT FUNDS NASDAQ-100(R) (Unhedged) Exchange Traded Fund 100 mil. JPY
/2ticks or 0.3%
2569 Listed Index Fund US Equity (NASDAQ100) Currency Hedge
Dow Jones Industrial 1546 NEXT FUNDS DJIA (Unhedged) Exchange Traded Fund
2562 Listed Index Fund US Equity (Dow Average) Currency Hedge
DAX 2860 NEXT FUNDS German Equity DAX (Yen-Hedged) Exchange Traded Fund
EURO STOXX 50 2859 NEXT FUNDS EURO STOXX 50 (Yen-Hedged) Exchange Traded Fund
MSCI Kokusai 2513 NEXT FUNDS International Equity MSCI-KOKUSAI (Unhedged) Exchange Traded Fund 100 mil. JPY
/2ticks or 0.2%
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
/2ticks or 0.4%
MSCI ACWI 2559 MAXIS World Equity (MSCI ACWI) ETF 15 mil. JPY
/2ticks or 0.4%
US Treasury 5-10 years 1486 Listed Index Fund US Bond (No Currency Hedge) 100 mil. JPY
/2ticks or 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
/2ticks or 0.15%
US Treasury over 10 years 2255 iShares 20+ Year US Treasury Bond ETF 100 mil. JPY
/2ticks or 0.25%
2621 iShares 20+ Year US Treasury Bond JPY Hedged ETF
German Government Bond 2857 iShares Germany Government Bond JPY Hedged ETF 100 mil. JPY
/2ticks or 0.25%
French Government Bond 2861 Listed Index Fund France Government Bond (No Currency Hedge) 100 mil. JPY
/2ticks or 0.4%
2862 Listed Index Fund France Government Bond (Currency Hedge)
FTSE WGBI 2511 NEXT FUNDS International Bond FTSE World Government Bond Index (ex Japan Unhedged) Exchange Traded Fund 100 mil. JPY
/2ticks or 0.4%
2512 NEXT FUNDS International Bond FTSE World Government Bond Index (ex Japan Yen-Hedged) Exchange Traded Fund
TOPIX Sector Indices TOPIX-17 series 1617 NEXT FUNDS TOPIX-17 FOODS ETF30 mil. JPY/
3ticks or 0.25%
1618 NEXT FUNDS TOPIX-17 ENERGY RESOURCES ETF
1619 NEXT FUNDS TOPIX-17 CONSTRUCTION & MATERIALS ETF
1620 NEXT FUNDS TOPIX-17 RAW MATERIALS & CHEMICALS ETF
1621 NEXT FUNDS TOPIX-17 PHARMACEUTICAL ETF
1622 NEXT FUNDS TOPIX-17 AUTOMOBILES & TRANSPORTATION EQUIPMENT ETF
1623 NEXT FUNDS TOPIX-17 STEEL & NONFERROUS ETF
1624 NEXT FUNDS TOPIX-17 MACHINERY ETF
1625 NEXT FUNDS TOPIX-17 ELECTRIC APPLIANCES & PRECISION INSTRUMENTS ETF
1626 NEXT FUNDS TOPIX-17 IT & SERVICES,OTHERS ETF
1627 NEXT FUNDS TOPIX-17 ELECTRIC POWER & GAS ETF
1628 NEXT FUNDS TOPIX-17 TRANSPORTATION & LOGISTICS ETF
1629 NEXT FUNDS TOPIX-17 COMMERCIAL & WHOLESALE TRADE ETF
1630 NEXT FUNDS TOPIX-17 RETAIL TRADE ETF
1631 NEXT FUNDS TOPIX-17 BANKS ETF
1632 NEXT FUNDS TOPIX-17 FINANCIALS (EX BANKS) ETF
1633 NEXT FUNDS TOPIX-17 REAL ESTATE ETF
TSE REIT Logistics Focus Index 2565 Global X Logistics J-REIT ETF30 mil. JPY/
1tick or 0.25%
TSE REIT Office Focus Index 2096 Global X Office J-REIT ETF
TSE REIT Residential Focus Index 2097 Global X Residential J-REIT ETF
TSE REIT Hotel & Retail Focus Index 2098 Global X Hotel & Retail J-REIT ETF
Actively managed ETFs 2080 PBR Improvement over 1x ETF10 mil. JPY/
3ticks or 0.25%
2081 Strategic Shareholding Disposal Promotion ETF
2082 Investor-Management Unite as One ETF
2083 NEXT FUNDS Japan Growth Equity Active Exchange Traded Fund10 mil. JPY/
1tick or 0.30%
2084 NEXT FUNDS Japan High Dividend Equity Active Exchange Traded Fund
2085 MAXIS High Dividend Japan Equity Actively Managed ETF
2093 Listed Tracers US Government Bond 0-2years Ladder (No Currency Hedge)10 mil. JPY/
2ticks or 0.15%
2011 SMDAM Active ETF Japan High Dividend Equity10 mil. JPY/
1tick or 0.30%
2015 iFreeETF US Treasury Bond 7-10 Year (NON HEDGED）10 mil. JPY/
1tick or 0.15%
2016 iFreeETF US Treasury Bond 7-10 Year (JPY HEDGED）
(*1) With the exception of actively managed ETFs, all of the conditions are from April to September 2024, TSE will announce updates after October 2024 by September 17, 2024. For actively managed ETFs, the ETFs will be set up until the end of August 2024. (Depending on the result, extension will be examined.)
(*2) Quoting time period is 80%.

 

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