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Jul. 02, 2021 TSE Revision of the Trading Rules for ETFs, etc.

 

The Tokyo Stock Exchange, Inc. (TSE) will revise the trading rules for ETFs, etc. as follows, with the aim of further protecting investors and improving convenience.

Optimization of Tick Sizes for ETFs, etc.

In order to reduce the execution costs paid by investors when trading ETFs, etc., and to improve the convenience of investing using ETFs, etc., TSE will revise the rules so that the tick sizes applied to TOPIX100 constituents are, as a general rule.

Overview

Strengthening of Regulations and Enhancement of Information Provision for Leverage / Inverse ETFs, etc.

As a result of the recent revision of the Cabinet Office Ordinance, the margin deposit for margin trading of leveraged ETFs, etc. is scheduled to be raised. TSE will also make the same amendments and other necessary revisions in line with the amendments.

  • The margin ratio for margin trading of leveraged and inverse ETFs, etc. will be raised to 2 times.
  • Restriction on the listing of products that may be subject to early redemption due to changes in index values, etc.
Overview
 

In addition, the following measures will be taken to ensure that investors are provided with appropriate information regarding investment in leveraged inverse ETFs, etc.

  • Request trading participants and asset management companies to provide appropriate information
  • Labeling of leveraged/inverse ETFs, etc. as products that differ from general ETFs, etc.
Reference Information icon-pdf

In addition, the following measures will be taken so that the price of ETFs can be more easily linked to the price of the underlying asset.

  • Partial Revision to Broadening of Daily Price Limits for ETF and ETN
Partial Revision to Broadening of Daily Price Limits for ETF and ETN
 

Enquiry

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


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