Tokyo Stock Exchange, Inc. (“TSE”) is pleased to announce today the successful launch of “Tdex+ System”, a new trading platform for options contracts. Tdex+ System, is the advanced electronic trading system based on LIFFE CONNECT®, which has been used by NYSE Liffe, the largest European derivatives exchange by trading value, and is highly rated for its performance and functionality by investors worldwide. With the introduction of Tdex+ System, order processing performance is dramatically improved to 6 milliseconds of order response* and about 20 thousand transactions per second. Functionality for strategy trades is enhanced as well.
TSE launches New Options System “Tdex+ System”
In addition to this, TSE also introduced the Market Maker scheme for all listed options contracts today. Multiple market makers started to quote bid and offer continuously for not only Options on JGB Futures, which have already high liquidity, but also TOPIX Options and Equity Options.
Atsushi Saito, President and CEO of Tokyo Stock Exchange, Inc. said “Today’s launch of Tdex+ System is the first step to further develop the TSE options market. The introduction of the Market Maker scheme provides investors the opportunity to trade Japanese options contracts in a highly transparent exchange market. I strongly believe that development of options market enhances the possibilities of alternative investments on Japanese financial markets, and greatly contributes to make Japanese markets more attractive. TSE will continue to make every effort to establish efficient and convenient markets for investors around the globe in the future.”
“NYSE Euronext is privileged to play an important role in the TSE’s Tdex+ System,” said Duncan L. Niederauer, CEO, NYSE Euronext. “Today’s launch of Tdex+ is the culmination of a year long endeavor involving both business and technology teams from NYSE Euronext working in partnership with the TSE. Technology provides the foundation for future business co-operation between our two organizations, and we are committed to doing our part to deliver significant benefit and value to the TSE and its customers.”
About Tokyo Stock Exchange, Inc.
Tokyo Stock Exchange, Inc. is the premier exchange for Japanese cash equities and derivative products from the perspective of investors both in Japan and abroad. In 2008, TSE recorded an average daily trading volume of 2,266 million shares, and daily average trading value of JPY 2,352 billion. This has positioned TSE as the central market of Japan . In addition to its core Japanese equity market, TSE provides markets for derivatives products such as long-term Japanese Government Bond (JGB) futures and TOPIX index futures. JGB futures trading, the cornerstone of TSE's fixed income derivatives market and the benchmark of the Japanese bond market, continues to thrive on investor demand from across the globe. The JGB futures contract is one of the most active long-term interest rate futures contracts in the world, with its annual trading volume in 2008 reaching 10,639 thousand contracts. The TOPIX futures contract, with its underlying index used as Japanese economic benchmark throughout the world, is the leading stock index futures product in Japan, with the largest open interests among Japanese stock index futures products. The annual trading volume of TOPIX Futures in 2008 reached to 18,375 thousand contracts.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With more than 8,000 listed issues, NYSE Euronext's equities markets -- the New York Stock Exchange, NYSE Euronext, NYSE Amex and NYSE Alternext as well as NYSE Arca – represent nearly 40 percent of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, the leading European derivatives business and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit:http://www.nyx.com
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