8/10/2010 TSE : What is arrowhead?

HOM E Products Trading arrowhead Square What is arrowhead?

arrowhead Square
What is arrowhead?
Update : Apr. 27, 2010
Products
Listing
arrowhead Square What is arrowhead? Revision of Trading Rules Pamphlet

Criteria for listing

Transfers to 1st section
Summary of Criteria for
Assignment to the 1st Section
and Reassignment from the 1st
Section to the 2nd Section
Criteria for Delisting
Code of Corporate Conduct
Securities on alert What is arrowhead?
Quarterly Disclosure
XBRL
"arrowhead" is the next generation trading system, which combines low latency, high reliability, and scalability, was
Corp orate Governance
Disclosure of foreign stocks launched on Monday, January 4, 2010. This system will handle the auction trading of all cash products such as
Trading stocks and CBs.
Domestic stocks
ToSTNeT M arket
M argin trading Characteristics of arrowhead
Rules for Canceling Executed
Transactions
Order Check Program for IPO Low latency:
stocks
arrowhead Square
(1) 5 millisecond (*)Order Response
Other Products
Bonds Lower response time for order acceptance notices
Convertible bonds (2) 3 millisecond (*)Information Distribution
ETFs Reduced latency for distribution of stock prices, quote information, etc.
REITs
Futures & Options
Reliability:
Carbon M arket(Emissions
Trading)
Co-Location Service at TSE Highly Reliable System built with State-of-the-Art Technology
Primary Site
Process trading information such as orders, executions, and order books on synchronized 3-node data servers.
TOKYO AIM

Scalability

Constantly ensure twice the maximum processing capacity of actual conditions. In concrete terms, when the
maximum system processing value under actual conditions for a whole day or the number of orders per minute
reaches 1/2 of the predetermined system threshold value, scale up accordingly to secure twice the maximum actual
processing value. Accommodate within a week in the case where such scalability criteria were exceeded.

(*)Figures based on those from prior testing.

Differences between Previous System and arrowhead

Matching speed

The previous system conducted matching once every few seconds; matching in arrowhead is immediate.

Capacity

Sufficient arrangements have been made for capacity based on the market estimate for arrowhead calculated based
on the current amount of orders, etc.

Revision of trading rules

Various trading rules were revised with the launch of arrowhead. For details, please refer to "Revision of Trading
Rules".

Revision of Trading Rules

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