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Trading

Trading rules of preferred stocks are similar to those of common stocks.

Trading Hours Morning session……… 9:00 a.m. - 11:30 a.m.
Afternoon session……… 12:30 p.m. - 3:00 p.m.
Trading Unit One unit prescribed in articles of incorporation of each listed company
Tick size Tick Size Table for issues other than TOPIX 500 constituents is applied
Types of Orders Market orders and limit orders
(similar to common stocks)
Daily Price limit Similar to common stocks
Trade Execution Individual auctions for each issue
Conditional Orders On open, on close, funari, IOC
(similar to common stocks)
Type of Transactions and Settlement Day Regular transaction (T+3)
Cash transaction (T+0)
When-issued transaction
Types of Trading and Settlement Dates Account transfer in JASDEC
(note)
  • ･In cases (limited to cases that the Exchange deems appropriate) where there are provisions to the effect that the issuer of the listed preferred stock, etc. will or may acquire said listed preferred stock, etc. upon the arrival of a specified deadline, the tick size table applied to the TOPIX500 constituents is applied.
  • ･ToSTNeT trading is also available.