Published On: Mon, Nov 2nd, 2009

Implementation Date of Abolishment of T+4 Settlement and Trading Suspension

The Tokyo Stock Exchange (TSE) recently announced that the implementation date of the abolishment of T+4 settlement and trading suspension for a predetermined period shall be Monday, November 16, 2009 as previously notified on April 1, 2009.

The TSE will abolish T+4 settlement and unify the settlement cycle to T+3 settlement for regular transactions of stocks (including foreign stocks), ETFs (including foreign ETFs) and REITs, etc. On the other hand, the settlement of bonds (including convertible bonds and exchangeable corporate bonds) will continue to be handled in the current way (i.e., not subject to unification to T+3 settlement).

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