Introduction to the Trading System at the Tokyo Stock Exchange

Keiichi Kubota and Hitoshi Takehara
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Keiichi Kubota: Chuo University
Hitoshi Takehara: Waseda University

Chapter 1 in Reform and Price Discovery at the Tokyo Stock Exchange: From 1990 to 2012, 2015, pp 1-12 from Palgrave Macmillan

Abstract: Abstract In Chapter 1 we provide an overview of trading at the First and Second Sections of the Tokyo Stock Exchange. We discuss how investors can send bid-ask orders to the TSE and outline how these orders are executed. We also explained the arrowhead trading system, implemented January 2010; by reading our example of the market clearing process, readers should become familiar with TSE trading systems. Then we summarize relevant financial characteristics of the firms listed on both sections of the TSE.

Keywords: Market Equity; Trading System; Limit Order; Price Discovery; Debt Ratio (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-54039-3_1

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DOI: 10.1057/9781137540393_1

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