Published On: Wed, Mar 30th, 2011

TSE Revises Trading Hours

TSE will expand the trading hours in the cash and derivatives markets, in order to increase the trading opportunities for a wider-range of investors From May 9, 2011

TSE will shorten the time for trading halts based on corporate information from 30 minutes to 15 minutes given the recent speed advancements in information terminals,etc.

In cases where the media reports information on a company, trading is halted. Trading will resume 15 minutes after announcement by such company.
▶ As before, placement/cancellation of orders will be possible during the trading halt. Orders placed before the halt will still be valid following resumption, as a general rule.
▶ In cases of Securities to Be Delisted, a full-day trading halt will be enacted.
▶ Information disclosed by the company will be available on the TSE Homepage’s “Timely Disclosure Viewing Service”.

TSE will shorten the special quote renewal time from 5 minutes to 3 minutes in order to promote faster and smoother order execution.

▶ For example, during Zaraba trading, if a new market order bid is placed for 200 shares, a special quote will display at JPY520 which is JPY10 (the special quote renewal price interval) higher than the preceding price of JPY510.
▶ Even with the display of a special quote at JPY520, because the presumable target price of JPY540 remains outside the JPY10 range from the current special quote, if an offer is not placed, the special quote will renew to JPY530 after 3min.

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