ETFs

Information for issuers

Update : Aug. 14, 2012

Guidebook for Listing ETFs outlines the listing criteria, listing examination, listing fees and so forth.
The contents of the Guidebook are updated when the Listing Rules and Regulations are revised.

Guidebook for Listing Domestic ETFs and Domestic spot commodity ETFs
Guidebook for Listing Foreign ETFs and Foreign spot commodity ETFs

Listing Application Documents of Foreign ETFs

The following is a list of the materials necessary to prepare an ETF's listing application documents for the Tokyo Stock Exchange.

• Listing Application Documents in Japanese

There are two types of formats:
[p]: Predetermined format (You are requested to use this format.)
[e]: Example format (You may use this format if you like.)

(Abbreviation)
Listing Regulations: Securities Listing Regulations of the Tokyo Stock Exchange
Enforcement Rules: Rules for the Enforcement of the Securities Listing Regulations of the Tokyo Stock Exchange

No	categoly		Documents to be submitted	No.of duplicates	Deadline	Basis for submission	Remarks	Form	Download
	ETF	spot commodity ETF
1	●	●	ETF Listing Contract (Form 4-2) *Attached English version is for reference purpose only. Original documents are in Japanese.	1	Day prior to the listing approval date	Rule 1102, Paragraph 1 of the Listing Regulations	*1	[p]
			<Japanese version>
2	●		Application Form for the Initial Listing of Securities	1	Listing application date	Rule 1103, Paragraph 1 of the Listing Regulations		[p]
		●						[p]	coming soon
3	●	●	Oath statement in relation to the initial listing application (Form 4-5) *Attached English version is for reference purpose only. Original documents are in Japanese.	1	Listing application date	Rule 1103, Paragraph 1 of the Listing Regulations and Rule 1102, Paragraph 2 of the Enforcement Rules		[p]
			<Japanese version>
4	●	●	Written confirmation regarding compliance with Exchange rules and regulations	1	Listing application date	Rule 1103, Paragraph 2 of the Listing Regulations	*2	[p]
			<Japanese version>
5	●	●	Documents on the indicator stated in the following (a) to (d) (a) List of the component securities (b) Calculation outline of the indicator (c) Documents stating changes in the indicator component securities within three years before the initial listing application date (d) Documents stating basic information on the attributes of the company calculating the indicator. However, there is no need to to submit the said documents if the company calculates indicators for listed ETFs.	1	Listing application date	Rule 1103, Paragraph 2 of the Listing Regulations and Rule 1103, Paragraph 1, Item 1, Sub-item 2 of the Enforcement Rules	*3	-	-
6	●		Confirmation Items for ETF Applied for Initial Listing	1	Listing application date	Rule 1103, Paragraphs 2 and 4 of the Listing Regulations	*4	[e]
		●		1	Listing application date			[e]
7	●	●	Statement of affirmation from the investment management company in accordance with the provisions of Rule 1104, Paragraph 1, Item 3 of the Listing Regulations (including the cases in accordance with Paragraph 2, Item 1, or Paragraph 3, Item 1 of the same Rule)	1	Listing application date	Rule 1103, Paragraph 2 of the Listing Regulations, and Rule 1103, Item 4 of the Enforcement Rules		[e]
8	-	●	Written confirmation prepared by the management company in accordance with Rule 1104, Paragraph 4, Item 4 of the Listing Regulations (including cases Rule 1104, Paragraph 5, Item 1 or Rule 1104, Paragraph 6 of the Listing Regulations)	1	Listing application date	Rule 1103, Paragraph 2 of the Listing Regulations and Rule 1103, Item 3, Sub-item 2a of the Enforcement Rules		[e]	coming soon
9	-	●	Written confirmation by the management company in accordance with Rule 1104, Paragraph 5, Item 3, Sub-item a of the Listing Regulations (including cases Rule 1104, Paragraph 6)	1	Listing application date	Rule 1103, Paragraph 2 of the Listing Regulations and Rule 1103, Paragraph 3, Sub-item 2b of the Enforcement Rules	*5	-	-
10	●	●	General conditions for investment trust or similar documents	1	Listing application date	Rule 1103, Paragraph 2 of the Listing Regulations, and Rule 1103, Item 4 of the Enforcement Rules		-	-
11	●	●	A legal opinion from a legal professional avowing that the creation of the foreign ETF or foreign spot commodity ETF is legitimate, including related clauses in the related laws and regulations referred to in the opinion statement	1	Listing application date	Rule 1103, Paragraph 2 of the Listing Regulations, and Rule 1103, Item 5, Sub-item a of the Enforcement Rules		-	-
12	●	●	Documents certifying that the representative described in the Application Form for the Initial Listing of Securities has proper authority concerning the listing of the foreign ETF or foreign spot commodity ETF.	1	Listing application date	Rule 1103, Paragraph 2 of the Listing regulations and Rule 1103, Item 5, Sub-item b of the Enforcement Rules		-	-
13	●	●	Statement certifying that the applicant has selected the agent, etc. of the investment management company or has received informal consent from the agent, etc. for consignment	1	Listing application date	Rule 1103, Paragraph 2 of the Listing regulations and Rule 1103, Item 5, Sub-item c of the Enforcement Rules		-	-
14	●	●	Copy of a statement certifying that the creation of the foreign ETF or foreign spot commodity ETF has been approved, authorized, permitted, registered, or treated by an equivalent procedure in accordance with the laws and regulations of the country in which the foreign ETF was created.	1	Listing application date	Rule 1103, Paragraph 2 of the Listing regulations and Rule 1103, Item 5 Sub-item d of the Enforcement Rules		-	-
15	●	●	A copy of written confirmation proving the application by trading participants as prescribed in Rule 32-2, Paragraph 1 of the Enforcement Rules of the Business Regulations and pertaining to foreign ETFs, foreign ETF trust beneficiary securities, domestic spot commodity ETFs, foreign spot commodity ETFs, and foreign spot commodity ETF trust beneficiary securities.	1	Listing application date	Rule 1103, Paragraph 2 of the Listing Regulations and Rule 1103, Item 5, Sub-item e of the Enforcement Rules	*6	-	-
16	-	●	Specimen of beneficiary certificates	1 per specimen	Listing application date	Rule 1103, Paragraph 2 of the Listing Regulations and Rule 1103, Item 6 of the Enforcement Rules	*7	-	-
17	-	●	List of securities certificate specimens	1	Listing application date	Rule 1103, Paragraph 2 of the Listing Regulations, and Rule 1103, Item6 of the Enforcement Rules	*7	-
18	●	●	Securities report (draft)	2	Listing application date	Rule 1103, Paragraph 4 of the Listing regulations		[e]	-
19	●	●	Securities registration statement (draft)	2	Listing application date	Rule 1103, Paragraph 4 of the Listing regulations		[e]	-
20	●	●	Statement confirming that the applicant has no relationship with any criminal element	1	Listing application date	Rule 1103, Paragraph 4 of the Listing regulations	*8	[e]

• (*1)ETF Listing Contracts should be submitted by the investment management company and the trust company, respectively (not a single contract signed by both)
• (*2)The signature of the representative of the management company (in the case of foreign ETFs which fall under foreign investment certificates,this means the foreign investment corporation and the management company) is required. A company seal or that of such representative is not required.
• (*3)There is no need to submit the documents in the event that the TSE calculates the indicator for the initial listing application issue.
• (*4)The following are the details of the documents. *There is need to submit this document discribing 2 and 3 in the case of foreign spot commodity ETFs.
  1.Framework and structures for making the fluctuation rate of net asset value per unit of the investment trust assets correspond to that of the applicable indicator
  (Rule 1103, Paragraph 1, Item 2 of the Enforcement Rules)
  2.Expectations to ensure smooth trading after listing of the initial listing application issue (Rule 1103, Paragraph 1, Item 2, Sub-item 2 of the Enforcement Rules)
  3.The fund's operations structure
  4.Management system and structure regarding credit standing, etc. of the counterparty and other appropriate systems.
• (*5)There is no need to submit this letter of commitment if you have already taken measures for investor protection, etc. to manage trust assets in accordance with laws and regulations in your country, etc. as related to the issue of an initial listing stock or general conditions for the said stock (in the case of falling under Rule 1103, Paragraph 5, Item 3, Sub-item b of the Securities Listing Regulations).
• (*6)Rule 32-2, Paragraph 1 of the Enforcement Rules of the Business Regulations refers to a foreign ETF support member system.
• (*7)Please submit these documents if you have created a beneficiary certificate.
• (*8)The investment management company and the trust company shall submit this statement separately. There is no need to file this document if you have already submitted it to the Exchange.