TSE News

TSE launches "New Tdex+ System"

Update : Nov. 21, 2011

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- A New Dawn for the TSE Derivatives Market -

Tokyo Stock Exchange, Inc. ("TSE") is pleased to announce today the successful launch of "New Tdex+ System", a new trading platform for derivative products. The New Tdex+ System is an advanced electronic trading system based on the LIFFE CONNECT® system used by NYSE Liffe in London, the largest European derivatives exchange. LIFFE CONNECT® is highly regarded for its superb performance and state-of-art functionality by investors worldwide. Options trading has been conducted on the existing Tdex+ System since October 2009, but this migration of futures to New Tdex+ System will integrate both trading platforms of the TSE derivatives market and greatly increase system efficiency.

With the introduction of the system, order processing performance is dramatically improved to an average order response of 5 milliseconds* and 36 thousand* orders processed per second. In addition to this, user convenience is greatly enhanced through advances such as the introduction of strategy trading.

In conjunction with the system launch, TSE introduced a Market Maker Scheme for futures products today. Currently, we have the participation of 35 market makers for mini-TOPIX futures and 25 market makers for mini-10 year JGB futures. In addition to highly liquid TOPIX futures and 10-year JGB futures, the Market Maker Scheme is expected to significantly increase liquidity in the overall TSE derivatives market, particularly mini futures.

Furthermore, aiming to provide more trading opportunities to a wide range of investors, TSE shortened the noon recess to extend the trading hours for index futures/options and individual securities options as well as the evening session of futures/options to 23:30.

Atsushi Saito, President and CEO of Tokyo Stock Exchange Group, Inc. said "Today, the replacement of TSE's full line of trading systems was completed with the launch of the New Tdex+ System. This will allow us to provide all our listed products on the world's highest-level of trading systems. In addition, the introduction of the Market Maker Scheme and the expansion of trading hours will dramatically improve the convenience of futures and options trading in a highly transparent exchange market. I strongly believe that these improvements to the derivatives market will broaden the investment options of our diverse investors at home and abroad and contribute to the further development of the Japanese financial market. TSE will continue to make every effort to establish an efficient and convenient market for investors around the globe."

Duncan L. Niederauer, CEO, NYSE Euronext said "Today's launch of the Tdex+ system for futures is an exciting step for Japan's growing derivatives market and our partners at the Tokyo Stock Exchange. TSE will offer its customers a proven, world-class trading platform that has already demonstrated exceptional performance and reliability in trading options and futures on NYSE Euronext's markets throughout the world. We are proud to continue our strong relationship with the dedicated team at the TSE in working together to deliver Tdex+, which is the culmination of two years of close collaboration and teamwork."


* Actual performance which has been measured in test phase

Trading Hours after launch of "New Tdex+ System" (Leaflet) PDF

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 approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets - the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca - represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses 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 Fortune 500. For more information, please visit: http://www.nyx.com.

Disclaimer

NYSE Euronext and its affiliates do not recommend or make any representation as to possible benefits from any securities or investments, or third-party products or services. Investors should undertake their own due diligence regarding their securities and investment practices. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.

Contact

Tokyo Stock Exchange, Inc.
Corporate Strategy (Press)
TEL: +81-3-3666-1361(main switchboard)

NYSE Euronext
Eric Ryan
TEL: +1-212-656-2411
E-mail: eryan@nyx.com

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