How are investors' orders dealt with in the TSE trading system?

Update : Aug. 29, 2003



Prior to the close of our trading floor (April 1999), stock transactions were handled by floor-traders. The image of the bustling trading floor is one that most people are familiar with. Nowadays though, all transactions on the TSE market take place automatically via our highly computerized trading system.

1.Orders from Trading Participants to TSE

Orders placed by investors to Trading Participants go through trading network of each trading participant to the TSE trading system.


The trading system registers and sorts all orders received according to, amongst other things, the originating Trading Participant, the name/code of the issue, the order size (volume), the price, the type of order (buy/sell) and the time the order was received.


The trading system executes all registered orders according to our trading rules, and execution reports are immediately sent to the Trading Participants electronically.

4.Dissemination of market information

In addition to processing and executing a large volume of trades, TSE also disseminates market information on a real-time basis. Thus investors can see at what price each stock is trading at and how many shares are available, allowing them to make informed investment decisions. Generally individual investors can access such information via information vendor terminals and securities companies' websites.

Please see this page for more details about TSE's information provision services.

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