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Jun. 29, 2018 TSE ETF Market Making Scheme Starts in July

 

As scheduled, Tokyo Stock Exchange (TSE) will introduce an ETF market making scheme in order to improve liquidity in the ETF market on July 2, 2018.

TSE started to accept applications to become market makers in April 2018, and so far, five market makers(*1) have applied for 98 issues under the scheme. The market makers are required to make continuous bid and ask quotes valued at no less than JPY 5 to 30 million for each issue with a spread of 0.2 to 0.5% for at least 80% of the time during continuous auction

The market makers have applied for the scheme on ETFs related to not only domestic stocks but also a variety of other asset classes such as domestic bonds, foreign stocks, foreign bonds, domestic REITs, and foreign REITs(*2). It is expected that transactions of these ETFs will be conducted swiftly at lower costs.

TSE remains committed to promoting the growth of a convenient market for investors.

*1
Market Makers are:
Nomura Securities Co., Ltd.
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
Flow Traders Asia Pte Ltd*
Optiver Australia Pty Limited*
Vivienne Court Trading*
*Low Latency Trader

*2
For a list of the ETF issues for which the market makers have applied, please access the following link.
http://www.jpx.co.jp/english/equities/products/etfs/issues/01.html

Enquiry

Tokyo Stock Exchange, Inc.　Equities Department
TEL:Tel: +81-3-3666-0141


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