Guidelines Concerning the Prevention of Unfair Trading

In order to prevent unfair trading in the securities market, a sufficient understanding of laws and regulations is important. However, it is often difficult in practice to judge whether and when a particular trading violates laws and regulations.

Therefore, from the perspective of preventing market manipulation and other forms of unfair trading, Japan Exchange Regulation (JPX-R) has published various guidelines concerning specific types of acts related to certain trading or during specified periods that may come under scrutiny in the course of our market surveillance activities.

As these guidelines do not constitute part of the Tokyo Stock Exchange rules, execution of trading in a manner specified in these guidelines does not necessarily result in a violation of laws and regulations or exchange rules. However, JPX-R expects trading participants (broker-dealers qualified to access directly the trading platform of Tokyo Stock Exchange or Osaka Exchange) and others (in particular, compliance divisions) to find them useful as practical guides for the prevention of unfair trading.

The following JPX-R guidelines are available in PDF format.

Guidelines Concerning the Acquisition of Own Shares(107KB) icon-pdf
Guidelines Concerning the Trading of Financing Stocks(171KB) icon-pdf
Guidelines Concerning the Trading on the Financial Accounting Date(83KB) icon-pdf
Guidelines Concerning Syndicate Cover Transactions(83KB) icon-pdf
Guidelines Concerning Closing Price Guaranteed Transactions, etc.(101KB) icon-pdf