Overview of a trading participant/Acquisition of trading qualifications

 

"Trading participant" refers to Financial Instruments Business Operators (securities companies), Transaction-at-Exchange Operators, Registered Financial Institutions and Commodity Derivatives Business Operators, etc. holding qualifications to directly participate in Tokyo Stock Exchange or Osaka Exchange market or Tokyo Commodity Exchange.

To become a trading participant, it has to pass exchange's qualification acquisition examination.
Furthermore, acquisition of Japan Securities Clearing Corporation clearing qualifications or (in cases where clearing will not be conducted by such operator) designation of an agency clearing participant with which clearing is entrusted is required when acquiring trading qualifications.

Types of trading participants

General Trading Participants (TSE)

General Trading Participants are able to trade securities in an Exchange Securities Market that the TSE provides. (Limited to Financial Instruments Business Operators and Transaction-at-Exchange Operators.)

Futures, etc. Trading Participants (OSE)

Futures, etc. Trading Participants are able to trade government bond futures transactions, index futures transactions, security options transactions, government bond futures options transactions and index options transactions in an Exchange Derivative Market that the Osaka Exchange provides. (Limited to Financial Instruments Business Operators and Transaction-at-Exchange Operators.)

Government bond futures, etc. Trading Participants (OSE)

Government bond futures, etc. Trading Participants are able to trade government bond futures transactions and government bond futures options transactions in an Exchange Derivative Market that the Osaka Exchange provides. (Limited to Financial Instruments Business Operators, Transaction-at-Exchange Operators and Registered Financial Institutions.)

Commodity Futures, etc. Trading Participants (OSE)

Commodity Futures, etc. Trading Participants are able to trade commodity futures transactions and commodity futures options transactions in an Exchange Derivative Market that the Osaka Exchange provides. (Financial Instruments Business Operators, Transaction-at-Exchange Operators, Registered Financial Institutions and Commodity Derivatives Business Operators are eligible.)

Broker Member (TOCOM)

Broker Members are able to execute proprietary transactions and customer transactions in a Commodity Futures Market that the TOCOM provides. (Limited to Commodity Derivatives Business Operators.)

Trade Member (TOCOM)

Trade Members are able to execute proprietary transactions in a Commodity Futures Market that the TOCOM provides.

Remote Broker Member (TOCOM)

Remote Broker Members have no office in Japan and are able to execute proprietary transactions and oversea customer transactions in a Commodity Futures Market that the TOCOM provides. (Limited to Foreign Commodity Derivatives Business Operators.)

Remote Trade Member (TOCOM)

Remote Trade Members have no office in Japan and are able to execute proprietary transactions in a Commodity Futures Market that the TOCOM provides.