On Feb. 10, 2025, TSE published four public comments received and its responses.
Explained that TSE would continue to consider appropriate tick size levels for ETFs whose trading unit is one unit and whose price is less than JPY 3k, taking into consideration the impact on the clearing and settlement rules and system.
The revised tick sizes of cash equities will be applied from May 7, 2025.
However, if the company deems it inappropriate to take effect on May 7, 2025 because of problems with the operation of the trading system or other unavoidable reasons, it will come into effect on a date determined by the company after that date.
JPN EXC proposed revisions to the tick sizes of cash equities and related products, to allow retail investors and institutional investors to conduct investment at a low cost.
Proposed Revisions
For ETFs, ETNs, and leveraged products whose trading unit is one unit, new tick sizes will be applied by share price range, and the tick size table number will be 04.
For ETFs, ETNs, and leveraged products with 10 or more trading units, tick sizes (tick size table number 03) applicable to TOPIX 500 constituents will continue to be applied.
Consultation End
Comments to be submitted by Dec. 20, 2024 for planned effectiveness from May 2025.
Feb. 2025 TSE Responses
On Feb. 10, 2025, TSE published four public comments received and its responses.
Explained that TSE would continue to consider appropriate tick size levels for ETFs whose trading unit is one unit and whose price is less than JPY 3k, taking into consideration the impact on the clearing and settlement rules and system.
The revised tick sizes of cash equities will be applied from May 7, 2025.
However, if the company deems it inappropriate to take effect on May 7, 2025 because of problems with the operation of the trading system or other unavoidable reasons, it will come into effect on a date determined by the company after that date.
