System Information

Frequently Asked Questions

Update : Mar. 24, 2014

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FAQ (System-related)

General

arrowhead

Market Information System

arrownet

TSE Connectivity Services

Answer

Q1.What procedures are required to participate in trading?

The following process is required to start trading as a trading participant on the TSE market.
- Obtain trading qualification
- Connect network
- Connect trading system
For details, please refer to the following link.

Q2.How long will it take to connect to the live trading environment?

The required processes and time period before starting to trade on the TSE market can be found at the following link.

Q3.What is the fee structure for trading system usage?

Fees to be paid by trading participants to TSE include, other than the basic fees, trading fees, trading system facility usage fees, and access fees.For details, please refer to the following link.

Q4.How can I obtain the trading system connection specifications?

Please contact us regarding obtaining the connection specifications.

Q5.What is a virtual server?

A virtual server is a logical device that needs to be installed in a trading participant's system for a trading participant to send/receive data to/from a trading system (such as arrowhead).
A single TCP connection is established between a virtual server and a trading system.

Q6.Were the trading rules changed when arrowhead was activated?

The trading rules were changed. For details, please refer to the following link.

Q7.What are IOC orders?

IOC (Immediate or Cancel) orders are orders with the condition to immediately execute all or part of the quantity of the order at a specified or better price and the remaining unexecuted quantity of such order will become void. For details, please refer to the link below.

Q8.What is "drop copy"?

It is a service which sends acceptance notices or execution notices for orders received from trading participants to one destination, and simultaneously sends a copy of the same notice to another destination.

Q9.How many lines do I need to receive market data feeds from the Market Information System?

You will need to construct a 100Mbps line each for FLEX Standard and FLEX Full, and a 2M line for FLEX Light. To ensure high quality and reliability, a 2-line configuration is a basic requirement for each service.

Q10.What is "arrownet"?

It is the network connecting TSE systems to market participants.
For details, please refer to the following link.

Q11.What is "arrownet version2.0"?

arrownet version 2.0 is a new service started to provide on June 25 2012.
Users will be able to use Broadband-Line service and consolidate of multiple lines. And furthermore, we are considering conection of the aforementioned systems of other institutions and overseas network service vendors.

Q12.What is an Access Point?

They are the points of access to and from a customer data center to the arrownet systems(TSE). In other words, they are the entrances and exits to arrownet.

Q13.If our data center is located nearer the Primary Site than the Access Points, can we connect directly to the Primary Site?

Since the only points of access to the TSE systems are the Access Points, all connections from the external environment must be via the Access Points.

Q14.Are we required to arrange for the line from our data center to an Access Point?

Users connect to Access Points via carrier lines provided by Tosho System Service, a TSE group company. Please contact TSE Service Desk for inquiries on constructing lines and related assistance.

Q15.Which telecommunications carriers for communication networks are available through Tosho System Service?

As of June 2011, the following 5 carriers are available.
KDDI, KVH, NTT Communications, NTT East, and Softbank Telecom (alphabetical order)

Q16.What is the Co-Location Area?

It is the area for users of the Co-Location Service in the data center where the TSE and OSE systems (arrowhead, J-GATE,ToSTNeT, and Market Information system) are located. Users can install their order placement devices and systems in this area.
While the conventional method of connection is via the Access Points, customers can connect directly to the TSE systems from the Co-Location Area.

Q17.What is the Proximity Area?

It is the area for users of the Proximity Service within the data center where the TSE Access Point is located.
Since this is the nearest location to the point of access to the TSE systems, it is an area that not only allows low latency connection to the TSE systems, but also places emphasis on connectivity to multiple markets in addition to the TSE market.

Q18.In terms of distance from TSE systems, is the Co-Location Area the nearest, and the Proximity Area next?

Yes, that is correct.

Q19.Can we connect to other markets and external data centers from the Co-Location Area or the Proximity Area?

Connection to the external environment from the Co-Location Area will be through the Access Points. For the Proximity Area, since it is outside the Access Point, direct connection is possible.

Q20.Has TSE received some kind of response on the issue of Permanent Establishment for tax purposes?

TSE has received a response from the National Tax Agency (NTA) which states that specified forms of use in the Co-Location Area and the Proximity Area will not be deemed a domestic PE.
Please be informed that NTA has the final authority on whether an entity is subject to tax.

Q21.Can we receive market information from TSE and set up a PTS in the Co-Location Area and the Proximity Area?

PTS cannot be established in the Co-Location Area and the Proximity Area.

Q22: What is "CSP"?

CSP is Co-Location Service Support Provider(s), who provides a Trading Participant(s) with an order placement environment , or other services, by using a device(s) installed in the Co-Location Area.

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