The Tokyo Stock Exchange rolled out on October 5 its new
options trading platform, Tdex+ System, adapted from the Liffe
TSE said the system would slash the order processing time
for its customers, reducing it to an estimated six
To lure more traders to use its options, TSE’s
platform incorporates Arrowhead, a new integrated ring network
with two access points connected to the data centre, enabling
more data to be communicated.
NYSE Euronext agreed to supply TSE with the new system in
The exchange has also initiated a new options market-making
scheme. Firms will provide continuous bids and offers for the
Atsushi Saito, president and chief executive of TSE, 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
The new options trading system was set to be introduced in
July but after delays in its development, this was postponed
TSE’s options trading volumes lag behind the
market leader for exchange-traded options, the Osaka Securities
Options trading at TSE peaked in 2007 when 33m contracts
were traded. So far in 2009, 16.4m contracts have been made.
Most of this volume is not equity options but the option on the
10 year Japanese Government Bond.
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