Trading (Subscription Warrant Securities)
Trading of subscription warrant securities is conducted through arrowhead.
| Trading Hours | 9:00 am - 11:30 am 12:30 pm - 3:30 pm |
| Trading Unit | Same as stocks which will be granted upon exercise of subscription warrant securities (hereafter "underlying shares subject to exercise") |
| Tick Size | Tick Size Table for issues other than TOPIX 500 constituents is applied(Tick size is set based on the price of the subscription warrant securities.) |
| Types of Orders | Market orders and limit orders |
| Daily Price Limit | Daily price limit of shares subject to exercise × No. of shares subject to exercise (bid/offer prices which have a fraction falling short of the tick sizes will be rounded up.) |
| Special Quote Renewal Price Interval | Same table as underlying shares subject to exercise (Special quote renewal price interval is set based on the price of subscription warrant securities.) |
| Base Prices | 1. Base price on initial listing date P = (A-B)xC P: Base price A: Closing price of underlying shares subject to exercise on the day before initial listing of subscription warrant securities B: Amount to be paid for 1 share of underlying shares subject to exercise C: No. of shares subject to exercise allotted per share 2. Base price on or after initial listing date As a general rule, closing price on the previous day |
| Trade Execution | Individual auctions for each issue (same as underlying shares subject to exercise) |
| ToSTNeT Trading | Available |
| Conditional Orders | Available |
| Types of Trading and Settlement Dates | Regular transaction (T+3) Cash transaction (T+0) |