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June 2009

Update : Jun. 25, 2009


1. Annual General Shareholders Meeting

Tokyo Stock Exchange Group, Inc. convened its second Annual General Shareholders Meeting at the TSE Hall of the TSE building, at 10:00 a.m. on June 24, 2009. The meeting was held with the presence of a total of 107 shareholders having 2,132,740 voting rights, including shareholders who exercised their voting rights in writing or via the Internet. The agenda on the selection of directors was approved by a majority in its original form.

The agenda on the selection of directors having executive positions, etc. was approved in its original form at the board of directors meeting held after said shareholders meeting.

2. Revision to Circuit Breaker Rule

Tokyo Stock Exchange, Inc. (TSE) has decided to make a partial revision to the circuit breaker rule regarding TOPIX futures and other derivatives.

This rule states that trading for stock index futures, JGB futures, etc. shall be suspended for 15 minutes when the market price of such futures contracts greatly increases or decreases from the base price of that day. The purpose of the circuit breaker rule is to provide investors with time for calm consideration of investment in such futures contracts.

Currently, the TSE judges the circuit breaker's applicability and enforcement of temporary suspensions on a contract month basis. For example, when the market price of September contract month trading reaches the criteria, the TSE suspends the trading of such contract month only, and not the trading of other contract months. However, with the aim of both simplifying the rule and enhancing its effectiveness, the TSE will change enforcement of the rule to apply the suspension to trading of all contract months if the market price of any contract month falls under the criteria.

The revision is scheduled to be implemented in conjunction with the activation of the new Tdex+ options trading platform.

[For more information]

Partial Rule Change to Circuit Breaker Rule on TSE Futures & Options PDF

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