Full story tokyo stock exchange

tokyo stock exchange

Mini documentary about the Tokyo Stock Exchange. Guided tour of Nihombashi,

The Tokyo Stock Exchange (東京証券取引所 Tōkyō Shōken Torihikijyo?), called Tōshō (東証?) or TSE for short, is located in Tokyo, Japan and is the third largest stock exchange in the world by aggregate market capitalization of its listed companies. The Tokyo Stock Exchange had 2,292 listed companies with a combined market capitalization of US$3.8 trillion as of Dec 2010.

History tokyo stock exchange

Prewar history tokyo stock exchange

The Tokyo Stock Exchange was established on May 15, 1878, as the Tokyo Kabushiki Torihikijo (東京株式取引所) under the direction of then-Finance Minister Okuma Shigenobu and capitalist advocate Shibusawa Eiichi. Trading began on June 1, 1878.

In 1943, the exchange was combined with ten other stock exchanges in major Japanese cities to form a single Japanese Stock Exchange (ja:日本証券取引所 Nippon Shōken Torihikisho?). The combined exchange was shut down and reorganized shortly after the bombing of Nagasaki.

Postwar history tokyo stock exchange

The Tokyo Stock Exchange reopened under its current Japanese name on May 16, 1949, pursuant to the new Securities Exchange Act.

The TSE runup from 1983 to 1990 was unprecedented, in 1990 it accounted for over 60% of the world's stock market capitalization (by far the world's largest) before falling precipitously in value and rankings today, but still remains one of the 3 largest exchanges in the world by market capitalization of listed shares.

The trading floor of the TSE was closed on April 30, 1999, and the exchange switched to electronic trading for all transactions. A new facility, called TSE Arrows (ja:東証アローズ Tōshō Arrows?), opened on May 9, 2000. In 2010, the TSE launched its Arrowhead trading facility. [5]

In 2001, the TSE restructured itself as a stock company: before this time, it was structured as an incorporated association (ja:社団法人 shadan hōjin?) with its members as shareholders.


Nihombashi - Financial District in Tokyo

Tokyo Exchange Struggles With Snarls in Electronics

TOKYO, Dec. 12 - What exactly is going on at the Tokyo Stock Exchange?

Last month, a computer glitch shut down trading on the exchange, the world's second-largest after the New York Stock Exchange, for almost an entire day. Then last week, a typographical error by the Mizuho Securities brokerage generated a $330 million loss. On Friday, the prime minister demanded corrective steps, and regulators began an investigation.

"I can't imagine problems like these happening at the New York Stock Exchange," said Neil Katkov, an analyst in Tokyo for Celent, a research firm based in Boston that specializes in financial technology. The Tokyo Stock Exchange, he said, "hasn't brought its procedures and technology up to the norms of international exchanges."

The latest electronic mix-up began last Thursday during the initial public offering of J-Com, a small recruiting company. An employee at Mizuho, a subsidiary of the Mizuho Financial Group, mistakenly typed an order to sell 610,000 shares at 1 yen, or less than a penny each, instead of an order to sell one share at 610,000 yen ($5,057) as intended, the brokerage said.

tokyo stock exchange site

TSE Historical Highlights

May 15, 1878 "Tokyo Stock Exchange Co., Ltd." established.
Jun. 30, 1943 "Japan Securities Exchange", a quasi-governmental organization, created by a merger of all existing stock exchanges in Japan.
Apr. 16, 1947 "Japan Securities Exchange" dissolved.
Apr. 1, 1949 "Tokyo Stock Exchange" in the present form founded (opened on May 16).
Jun. 1, 1951 Margin transactions introduced.
Apr. 2, 1956 Bond trading started.
Oct. 2, 1961 Second Section for stocks opened.
Oct. 1, 1966 Government bonds listed for the first time after World War II.
Oct. 2, 1967 New auction process put into practice with abolition of "Baikai" trades (off-exchange trades by members reported as TSE contracts)
Apr. 1, 1968 Licensing system for securities companies introduced in place of registration system.
Jul. 1, 1969 TOPIX (Tokyo Stock Price Index) inaugurated (January 4,1968=100).
May 11, 1970 Trading in convertible bonds started.
Oct. 15, 1970 TSE joined the International Federation of Stock Exchanges(FIBV).
Jul. 19, 1971 Book Entry Clearing System for stocks introduced.
Apr. 2, 1973 Yen-based foreign bonds listed for the first time.
Dec. 18, 1973 Foreign Stock Section opened.
Sep. 24, 1974 Market Information System (MIS) put into operation.
Apr. 1, 1977 Ad valorem brokerage commission system introduced.
Jan. 23, 1982 Computer-assisted Order Routing & Execution System (CORES) introduced.
May 13, 1985 Trading started in new market building.
Oct. 19, 1985 Trading in 10-year Japanese government bond futures started.
Feb. 1, 1986 10 securities companies including first 6 foreign companies joined the TSE membership.
May 23, 1988 22 securities companies including 16 foreign companies joined the TSE membership.
Sep. 3, 1988 Trading in TOPIX futures started.
Oct. 20, 1989 Trading in TOPIX options started.
Dec. 1, 1989 Trading in U.S. T-Bond futures started.
May 11, 1990 Trading in options on Japanese government bond futures started.
Nov. 19, 1990 10 securities companies including 3 foreign companies joined the TSE membership.
Nov. 26, 1990 Floor Order Routing and Execution System (FORES) introduced.
Oct. 9, 1991 Central Depository & Clearing System began its operation.
Apr. 1, 1994 Partial (over 1 billion yen) deregulation of brokerage commission was effected.
May 29, 1995 Investment Trust Beneficiary Certificate linked to "Nikkei 300 Stock Index Listed Fund" listed.
Feb. 16, 1996 Trading in 5-year Japanese government bond futures started.
Jul 18, 1997 Trading in equity options started.
Jan. 23, 1998 Trading in sector-stock price index futures started.
Apr. 1, 1998 Partial (over 50 million yen) deregulation of brokerage commission was effected.
Apr. 2, 1998 Calculation of new stock price index series started.
Jun. 29, 1998 ToSTNeT introduced.
Jul. 1, 1998 TDnet (Timely Disclosure Network) system introduced.
Dec. 1, 1998 Abolition of restriction on off-exchange trading for listed securities.
Apr. 2, 1999 50th Anniversary Ceremony was held.
Apr. 30, 1999 Stock trading floor was closed.
Jun. 1, 1999 Target (TSE wide area network) introduced.
Oct. 1, 1999 Liberalization of brokerage commission.
Oct. 1, 1999 Abolition of the fixed number of members was effected.
Nov. 11. 1999 The MOTHERS market for high-growth and emerging companies established
Mar. 1. 2000 Hiroshima and Niigata stock exchanges merge into TSE
May 9. 2000 Opening of TSE ARROWS
Nov. 1. 2001 Tokyo Stock Exchange, Inc. established after demutualization of TSE
Jan. 14, 2003 Commencement of operations at Japan Securities Clearing Corporation
Aug.1.2007 Tokyo Stock Exchange Group, Inc. established
Oct.17.2007 Establishment of Tokyo Stock Exchange Regulation

Commencement of operations at Tokyo Stock Exchange Regulation

Full story tokyo stock exchange