The Tokyo Stock Exchange (TSE)

Summary: Why learn about the Tokyo stock exchange? It is actually a very important market. Whilst America is sleeping, Tokyo is trading and breaking news that helps or hinders Asian markets will then be passed on to North American markets. This means that in the short-term, what happens on the Tokyo stock exchange is very important to the rest of the world.



The Tokyo stock exchange is the largest of Japan's markets. One of these is the JASDAQ, a Japanese version of the NASDAQ in the USA.

Roughly 80% of all trades in Japan are carried out on the TSE. TSE stocks can be traded in one of two ways:

(i) by using FORES, the Floor Order Routing and Execution System, which deals with the 150 most traded stocks,

(ii) or by using CORES, the Computer assisted Routing and Execution System, which deals with the remaining stocks.

By using these order driven systems, trades are completed on a time priority basis, unless the orders are placed before market opening hours, in which case they are prioritised on a size basis.

The Tokyo stock exchange acts as it's own clearing house and trades are settled on a T+3 basis.

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Dividends are subject to a tax rate of 20% which can be reduced for overseas investors if a doube taxation treaty exists between the relevant national authorities.

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To read more about topics related to the Tokyo stock exchange, please visit the following pages:

Tokyo Stock Exchange Bond Trades

Tokyo Stock Exchange History

Tokyo Stock Exchange Latest News

Latest Tokyo Stock Exchange Blog Posts

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