What kind of market information is available to investors?

Update : Jan. 04, 2010



Market information allows investors to assess the current market situation and judge whether stock prices are relatively high or low. This allows investors to make accurate, informed investment decisions.
TSE provides the following kinds of market information: the price of every transaction, the opening/highest/lowest/closing prices for each stock, trading value and trading volume, as well as TOPIX (Tokyo Stock Price Index) information, which reflects price trends across the entire TSE first section.
The following order book information is also available:

8 best offer/bid quotes

The sell order at the lowest price and the buy order at the highest price are referred to as the best offer and best bid respectively. TSE provides these quotes, as well as next 7 best quotes (on each side) with the total number of shares at those prices. (Please see 'How are the 8 best offer/bid quotes indicated?' for more details.)

Special quote

As explained in 'What is a 'special quote', and how does it work?', special quotes are indicated when there is an order imbalance. TSE provides information about special quotes and the aggregated sell and buy orders up to that price, as well as the 7 next best quotes on each side with the total number of shares at those prices. (Please see 'How are special quotes indicated?' for more details.)

Pre-opening quote

Investors are obviously interested in the state of the order book before the opening auction takes place. So TSE provides a pre-opening quote, which indicates the price at which buy and sell orders would balance, as well as the 7 best buy and sell prices with the total number of shares at those prices. In other words, the pre-opening quote is an estimate of the opening price. This quote changes frequently up until the opening auction as more orders continue to reach the order book. (Please see 'How are pre-opening quotes indicated?' for more details.)

TSE provides this information to securities companies and information vendors. Individual private investors can access this information by contracting one of these companies.

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