Major Stock Exchange Introduction

The Tokyo Stock Exchange (TSE)

The Tokyo Stock Exchange (TSE) was established on May 15, 1878. According to the ranking made by the World Frderation of Exchanges in May 2012, TSE, is the third largest stock exchange in the world by aggregate market capitalization of its listed companies, after NYSE Euronext (first) and NASDAQ OMX(second). The Tokyo Stock Exchange had about 2,287 listed companies with a combined market capitalization of USD 3.534 trillion.

Stocks listed on the TSE are separated into the First Section (for large companies), the Second Section (for mid-sized companies), and the "Mothers" section (for high-growth startup companies). As of March 2006, there are 1,721 First Section companies, 489 Second Section companies and 156 Mothers companies.

Osaka Securities Exchange

Osaka Securities Exchange Co., Ltd. is the second largest securities exchange in Japan, in terms of amount of business handled. As of 31 December 2007, the Osaka Securities Exchange had 477 listed companies with a combined market capitalization of $212 billion.

The Nikkei 225 Futures, introduced at the Osaka Securities Exchange in 1988, is now an internationally recognized futures index. In contrast to the Tokyo Securities Exchange, which mainly deals in spot trading, the Osaka Securities Exchange’s strength is in derivative products today OSE is the leading Derivatives Exchange in Japan and it was the largest futures market in the world in 1990 and 1991.

According to statistics from 2003, the Osaka Securities Exchange handled 59% of the stock price index futures market in Japan, and almost 100% of trading in the options market. Osaka Securities Exchange Co., which listed on its Hercules market for startups in April 2004 is the only Japanese securities exchange which went public on its own market.

Major Index Introduction

TOPIX index

Based on the share prices of First Section companies on the Tokyo Stock Exchange

Account Opening Procedures

Please click here for account open details.

Trading Information

Commission

Please click here for commission details.

Daily Price Limit

TSE has established daily price limits, based on stocks' previous day's closing prices, beyond which prices may not swing. These limits protect investors from distorted price formation as a result of a speculative market or when the supply/demand balance is broken.