The Tokyo Stock Exchange, or TSE, is one of the largest stock markets in all of Asia, with over 3.3 billion shares exchanging hands each trading day. The exchange supports the trading of bonds and derivatives in addition to equities.
The history of the TSE dates back to the 1870's, when a securities system was established in Japan and public negotiating for bonds first began. The Tokyo Stock Exchange Co., LTD was established on May 15, 1878, and trading on the exchange began in June of that same year.
Between August 10, 1945 and April 1, 1949, official trading on the exchange was suspended due to the war. After several post-war reorganizations, the TSE emerged as the largest of the five stock exchanges in Japan, including the Sapporo Securities Exchange, Osaka Securities Exchange, Nagoya Stock Exchange, and Fukuoka Stock Exchange in addition to the TSE.
On July 1, 1969, the TSE introduced the TOPIX (Tokyo Stock Price Index), which is a composite index of all the domestic common stocks listed on the exchange. The TOPIX is considered the best indicator of the financial condition of the Japanese stock market.
The TSE is a member of the Japan Exchange Group, Inc., which a is holding company with subsidiaries that also include the Osaka Securities Exchange Co., Ltd. (OSE), as well as Tokyo Stock Exchange Regulation (TSER), and Japan Securities Clearing Corporation (JSCC).
The latest report (August 2019) on the Tokyo Stock Exchange indicates there are approximately 3,670 companies listed on the exchange. Some of the other facts and figures associated with the Tokyo Stock Exchange include:
In addition to the TOPIX, the Nikkei 225 is recognized as one of the major international stock indices in the world today.
In November 2011, the TSE launched the Tdex+ System, which is an options and futures trading platform. This system claims to be able to process as many as 36,000 orders per second.
The Tokyo Stock Exchange is open from Monday through Friday, and observes the following holiday schedule for the calendar years 2018 and 2019.
|January 1, 2019||New Year's Day|
|January 2 2019||Exchange Holiday|
|January 8, 2019||Coming of Age Day|
|March 31, 2019||Vernal Equinox|
|April 30, 2019||Showa Day|
|May 3, 2019||Constitution Memorial Day|
|May 4, 2019||Greenery Day|
|July 16, 2019||Marine Day|
|September 17, 2019||Respect for the Aged Day|
|September 24, 2019||Autumnal Equinox|
|October 8, 2019||Health and Sports Day|
|November 23, 2019||Labor Thanksgiving Day|
|December 24, 2019||Emperor's Birthday|
|December 31, 2019||Exchange Holiday|
|January 1, 2020||New Year's Day|
|January 2, 2020||Exchange Holiday|
|January 3, 2020||Exchange Holiday|
|January 13, 2020||Coming of Age Day|
|February 11, 2020||National Foundation Day|
|March 24, 2020||Vernal Equinox|
|April 29, 2020||Showa Day|
|May 4, 2020||Greenery Day|
|May 5, 2020||Children's Day|
|May 6, 2020||Constitution Day|
|July 23, 2020||Marine Day|
|July 24, 2020||Health Sports Day|
|August 10, 2020||Mountain Day|
|September 21 2020||Respect for the Aged Day|
|September 22, 2020||Autumnal equinox|
|November 3, 2020||Culture Day|
|November 23, 2020||Labor Thanksgiving Day|
|December 31, 2020||Exchange Holiday|
The standard trading hours for most stock exchange products listed on TSE are 09:00 to 11:00 and 12:30 to15:00. Product-specific trading hours include:
Note: The trading hours mentioned above are stated in local time Tokyo, Japan. The standard time zone for Tokyo is UTC / GMT +9 hours.
About the Author - Tokyo Stock Exchange (TSE)