Japannext PTS is open five days a week from Monday to Friday except for national, observed, and exchange holidays. Please refer to the tables below for exact dates.
Japannext PTS continuously invests in the optimization of its technology and infrastructure to ensure the growth and reliability of its service over the entire trade lifecycle. This ensures that Japannext PTS remains on the cutting edge when it comes to trading securities in the Japanese market.
We have partnered with NASDAQ to successfully launch a new NASDAQ powered trading system on September 26, 2011. By shifting to NASDAQ's extensively proven exchange technology, our members benefit from significant latency improvements and increase in throughput capacity. This system shift will enable us to offer our customers an advanced, low-latency trading system in line with international standards. High-performance trading technology is a vehicle for growth, and Japannext PTS maintains a prime position to further increase our market share and customer-base.
Other peripheral technologies such as a FIX order entry gateway and various market data feeds were developed internally to ensure high performance and low latency characteristics on par with, if not better than, the best exchanges in the US. Our market participants can rely on us to go to great lengths to ensure the redundancy and reliability of our services.
We offer market data information and accept clients' orders via emerging industry standard protocols OUCH and ITCH. These protocols open up a fast and extremely efficient way to engage with our market. We also support the industry standard FIX protocol.
Besides underlying technology strength, we also strive to improve the business experience of our clients. Today Japannext PTS is the only PTS operator which offers its services during both day and night. Our daytime and nighttime markets are always steps ahead of primary exchanges due to their competitive tick sizes and that our nighttime market takes advantage of the next day's referential prices, day limits, and tradable security list. For quality trades, during daytime market hours all eligible participants may place their orders to the daytime's sister market (X-Market) where they will be guaranteed to cross only with certain retail flows.
Designed specifically to meet the demands of the financial Industry, our co-location space provides the lowest latency to the Japannext PTS matching engine, as well as one of the lowest latencies to the other Japan venues. We are able to provide our clients a cost effective, flexible installation, and fully monitored service .
We provide full remote hands service to our members for our PTS racks and any other data centers located in Japan. We have multilingual staff on-site and on duty 24/7, dedicated to providing support and troubleshooting issues. We pride ourselves in our quick response times and comprehensive assistance.
For international clients concerned about warranties or local pricing of hardware, we are able to provide our clients with the option to purchase their hardware. All devices are fully covered under Japanese warranty and we have secured competitive pricing . Please reach out to our sales team for more information.
We provide our members and their potential trading clients to access our historical tick market data for their analysis.
We understand the importance of having a team that can support our global clients. We have a multi lingual team that is able to cater to your needs
X-Market and U-Market are available during daytime market hours.
The main PTS market is split into two sessions, refered to as the Daytime Market and Nighttime Market. For more details please refer to Japannext PTS Trading Rules.
The X-Market is a targeted market which sets its focus on retail clients. It has an additional matching rule which prevents crossing between DLPs (Designated Liquidity Providers). This combined with the qualification procedure for buy and sell sides creates an unique opportunity for DLPs to improve prices. For more details please refer to X-Market Information and X-Market Participation Rules.
The U-Market is designed to facilitate Index Arbitrage traders interacting with DLPs, with greater flexibility of price ranges and tick sizes. For more details please refer to U-Market Information.
Price | Tick Size | ||||
---|---|---|---|---|---|
Above | Up To |
Other than TPX100 and TopixMid400
(JNX J-MKT)
|
TPX100 and TopixMid400
(JNX J-MKT)
|
Other than TPX100 and TopixMid400
(TSE)
|
TPX100 and TopixMid400
(TSE)
|
1,000 | 0.1 | 0.1 | 1 | 0.1 | |
1,000 | 3,000 | 0.1 | 0.1 | 1 | 0.5 |
3,000 | 5,000 | 0.5 | 0.1 | 5 | 1 |
5,000 | 10,000 | 1 | 0.1 | 10 | 1 |
10,000 | 30,000 | 1 | 0.5 | 10 | 5 |
30,000 | 50,000 | 5 | 1 | 50 | 10 |
50,000 | 100,000 | 10 | 1 | 100 | 10 |
100,000 | 300,000 | 10 | 5 | 100 | 50 |
300,000 | 500,000 | 50 | 10 | 500 | 100 |
500,000 | 1,000,000 | 100 | 10 | 1,000 | 100 |
1,000,000 | 3,000,000 | 100 | 100 | 1,000 | 500 |
3,000,000 | 5,000,000 | 100 | 100 | 5,000 | 1,000 |
5,000,000 | 10,000,000 | 100 | 100 | 10,000 | 1,000 |
10,000,000 | 30,000,000 | 100 | 100 | 10,000 | 5,000 |
30,000,000 | 50,000,000 | 100 | 100 | 50,000 | 10,000 |
50,000,000 | 100 | 100 | 100,000 | 10,000 |
JAPANNEXT DATA CENTER
Japannext provide network connectivity for participants to access Japannext PTS markets.
Telecom WAN circuits and colocation spaces are supported for the connectivity.
Full market depth information.
All trades on Japannext PTS are cleared through JSCC (Japan Securities Clearing Corporation). The benefits are guaranteed settlement on PTS trades (no counterparty risk) and straight through processing for trade settlement.
All settlement processing is done through JASDEC (Japan Securities Depository Center). Requirements include MIC (Market Identification Code) for JASDEC PSMS (Pre-Settlement Matching System) and reconciliation processing completion.