Tokyo Stock Exchange chooses NYSE Euronext Technology for its options market
New dealings system will be based on LIFFE CONNECT
Tokyo, New York & London (BUSINESS WIRE) - Tokyo Stock Exchange Inc. (TSE) is proud to announce the introduction of Tdex+, a new trading system based on LIFFE CONNECT and AEMS technology and services, for its options trading market.
LIFFE CONNECT, which is already operational in Japan, is the advanced electronic trading system employed by Liffe, the NYSE Euronext subsidiary and Europe's largest derivatives exchange based on traded value, and is rated highly by investors worldwide for its performance, functionality and global distribution.
The selection of LIFFE CONNECT and NYSE Euronext Advanced Trading Solutions follows the Tokyo Stock Exchange's rigorous
evaluation of several electronic trading systems in use at major exchanges worldwide. Tdex+ is scheduled to start in the early first half of 2009.
TSE is also planning to introduce major operational and regulatory improvements, including new Market Maker functionality for the Japanese market, with the launch of Tdex+. The Market Maker functionality, a popular mechanism deployed in European and US markets, will populate buy and sell quotes across the options market, a necessity in providing sufficient liquidity to this market.
Through building and maintaining a state-of-the-art trading system that attracts investors worldwide, TSE demonstrates its commitment to developing a highly liquid options market that meets Japanese law and cultural practice, to benefit both institutional and public sector users. Details of the business rules for the new system will be made public as soon as the specifications for the system are laid out.
Atsushi Saito, President and CEO of the Tokyo Stock Exchange Group says, "The Japanese options trading market contains significant growth potential. We believe promoting this market will bring forth a great investment opportunity for not only the Japanese investor, but investors worldwide. We have chosen NYSE Euronext as a valued partner in developing this market.
NYSE Euronext's technical and operational expertise in various markets such as the capital and derivatives markets, within multiple localities in Europe and USA is of indispensable value to us."
"We greatly appreciate and thank the Tokyo Stock Exchange for choosing NYSE Euronext Advanced Trading Solutions," said Duncan Niederauer, CEO, NYSE Euronext. "This agreement builds on our alliance and partnership with the TSE, and we believe the TSE can make good use of our knowledge, leadership and technology advantage in derivatives trading. Together, we will develop and introduce a superior platform that serves the interests of customers, addresses the demands for speed and capacity, and ensures that Tdex+ proves beneficial to the Japanese investor and financial marketplace."
About the Tokyo Stock Exchange
Tokyo Stock Exchange, Inc. is the premier exchange for Japanese cash equities and derivative products from the perspective of investors both in Japan and abroad. In 2007, TSE recorded an average daily trading volume of 2,294 million shares, and daily average trading value of JPY 3,070.3 billion. This has positioned TSE as the central market of Japan.
In addition to its core Japanese equity market, TSE provides markets for derivatives products such as long-term Japanese government bond futures and TOPIX index futures. Japanese Government Bond (JGB) futures trading, the cornerstone of TSE's fixed income derivatives market and the benchmark of the Japanese bond market, continues to thrive on investor demand from across the globe.
The JGB futures contract is one of the most active long-term interest rate futures contracts in the world, with its annual trading volume in 2007 reaching 13,545 thousand contracts.
The TOPIX futures contract, which is actively traded by institutional investors, is the leading stock index futures product in Japan, with the largest open interest among Japanese stock index futures products. The annual trading volume of TOPIX Futures in 2007 was 16,578 thousand contracts.
About NYSE Euronext Advanced Trading Solutions
A unit of NYSE Euronext (NYX), NYSE Euronext Advanced Trading Solutions is a leader in providing complete connectivity, data management and transaction solutions for trading firms, vendors and financial markets throughout the world. Offering a suite of comprehensive, best-of-breed commercial technology solutions that include advanced end-to-end market data management, global exchange connectivity and matching technologies, co-location systems, and super low-latency order routing capabilities, NYSE Euronext Advanced Trading Solutions' products attract and enable the free flow of liquidity for high-volume markets around the world.
This unit operates SFTI, one of the world's largest, most reliable financial transaction networks; NYSE TransactTools, the high-performance, end-to-end connectivity software; and Wombat, offering the industry's most advanced platform for real-time market data distribution and integration. With offices across the U.S., Europe, Singapore and Japan, NYSE Euronext Advanced Trading Solutions' commitment to superior development, engineering and customer service has earned the trust to power the trading operations of hundreds of global financial institutions, including core technology for 17 of the world's 20 largest securities firms. For additional information visit: http://www.nyse.com/tradingsolutions.
In December 2007, NYSE Euronext and Atos Origin announced their agreement in principle for NYSE Euronext to acquire the 50% stake in AtosEuronext Market Solutions (AEMS) owned by Atos Origin. The transaction is subject to the satisfaction of several conditions and approvals and execution of final documents, upon which time AEMS will be fully owned by NYSE Euronext.
NYSE Euronext in Japan NYSE Euronext is committed to serving the Asia-Pacific region, which has experienced rapid growth in sophisticated electronic trading and increased demand for advanced trading technology with fast, reliable linkages between the U.S., Europe, and Asia.
To enhance its ability to quickly deliver technology services to clients in Japan, including the TSE, NYSE Euronext has expanded its Tokyo office to include representatives of its commercial technology unit, NYSE Euronext Advanced Trading Solutions. In addition to its recently expanded presence in Tokyo, NYSE Euronext has operations in Beijing, Hong Kong, and Singapore.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such
forward-looking statements.
Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext's reference document for 2006 ("document de reference") filed with the French Autorit des March's Financiers (Registered on June 6, 2007 under No. R.07-0089), 2007 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorite des March's Financiers.
In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected.
The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
Tokyo Stock Exchange Group, Inc.: Mitsuo MIWA,
81-3-3665-1051 Media Relationsm-miwa@tse.or.jp
or NYSE Euronext:
+31.20.550.4488 (Amsterdam)
+32.2.509.1392 (Brussels)
+351.217.900.029 (Lisbon)
+44.20.7379.2789 (London)
+1.212.656.2411 (New York)
+33.1.49.27.11.33 (Paris)
New dealings system will be based on LIFFE CONNECT
Tokyo, New York & London (BUSINESS WIRE) - Tokyo Stock Exchange Inc. (TSE) is proud to announce the introduction of Tdex+, a new trading system based on LIFFE CONNECT and AEMS technology and services, for its options trading market.
LIFFE CONNECT, which is already operational in Japan, is the advanced electronic trading system employed by Liffe, the NYSE Euronext subsidiary and Europe's largest derivatives exchange based on traded value, and is rated highly by investors worldwide for its performance, functionality and global distribution.
The selection of LIFFE CONNECT and NYSE Euronext Advanced Trading Solutions follows the Tokyo Stock Exchange's rigorous
evaluation of several electronic trading systems in use at major exchanges worldwide. Tdex+ is scheduled to start in the early first half of 2009.
TSE is also planning to introduce major operational and regulatory improvements, including new Market Maker functionality for the Japanese market, with the launch of Tdex+. The Market Maker functionality, a popular mechanism deployed in European and US markets, will populate buy and sell quotes across the options market, a necessity in providing sufficient liquidity to this market.
Through building and maintaining a state-of-the-art trading system that attracts investors worldwide, TSE demonstrates its commitment to developing a highly liquid options market that meets Japanese law and cultural practice, to benefit both institutional and public sector users. Details of the business rules for the new system will be made public as soon as the specifications for the system are laid out.
Atsushi Saito, President and CEO of the Tokyo Stock Exchange Group says, "The Japanese options trading market contains significant growth potential. We believe promoting this market will bring forth a great investment opportunity for not only the Japanese investor, but investors worldwide. We have chosen NYSE Euronext as a valued partner in developing this market.
NYSE Euronext's technical and operational expertise in various markets such as the capital and derivatives markets, within multiple localities in Europe and USA is of indispensable value to us."
"We greatly appreciate and thank the Tokyo Stock Exchange for choosing NYSE Euronext Advanced Trading Solutions," said Duncan Niederauer, CEO, NYSE Euronext. "This agreement builds on our alliance and partnership with the TSE, and we believe the TSE can make good use of our knowledge, leadership and technology advantage in derivatives trading. Together, we will develop and introduce a superior platform that serves the interests of customers, addresses the demands for speed and capacity, and ensures that Tdex+ proves beneficial to the Japanese investor and financial marketplace."
About the Tokyo Stock Exchange
Tokyo Stock Exchange, Inc. is the premier exchange for Japanese cash equities and derivative products from the perspective of investors both in Japan and abroad. In 2007, TSE recorded an average daily trading volume of 2,294 million shares, and daily average trading value of JPY 3,070.3 billion. This has positioned TSE as the central market of Japan.
In addition to its core Japanese equity market, TSE provides markets for derivatives products such as long-term Japanese government bond futures and TOPIX index futures. Japanese Government Bond (JGB) futures trading, the cornerstone of TSE's fixed income derivatives market and the benchmark of the Japanese bond market, continues to thrive on investor demand from across the globe.
The JGB futures contract is one of the most active long-term interest rate futures contracts in the world, with its annual trading volume in 2007 reaching 13,545 thousand contracts.
The TOPIX futures contract, which is actively traded by institutional investors, is the leading stock index futures product in Japan, with the largest open interest among Japanese stock index futures products. The annual trading volume of TOPIX Futures in 2007 was 16,578 thousand contracts.
About NYSE Euronext Advanced Trading Solutions
A unit of NYSE Euronext (NYX), NYSE Euronext Advanced Trading Solutions is a leader in providing complete connectivity, data management and transaction solutions for trading firms, vendors and financial markets throughout the world. Offering a suite of comprehensive, best-of-breed commercial technology solutions that include advanced end-to-end market data management, global exchange connectivity and matching technologies, co-location systems, and super low-latency order routing capabilities, NYSE Euronext Advanced Trading Solutions' products attract and enable the free flow of liquidity for high-volume markets around the world.
This unit operates SFTI, one of the world's largest, most reliable financial transaction networks; NYSE TransactTools, the high-performance, end-to-end connectivity software; and Wombat, offering the industry's most advanced platform for real-time market data distribution and integration. With offices across the U.S., Europe, Singapore and Japan, NYSE Euronext Advanced Trading Solutions' commitment to superior development, engineering and customer service has earned the trust to power the trading operations of hundreds of global financial institutions, including core technology for 17 of the world's 20 largest securities firms. For additional information visit: http://www.nyse.com/tradingsolutions.
In December 2007, NYSE Euronext and Atos Origin announced their agreement in principle for NYSE Euronext to acquire the 50% stake in AtosEuronext Market Solutions (AEMS) owned by Atos Origin. The transaction is subject to the satisfaction of several conditions and approvals and execution of final documents, upon which time AEMS will be fully owned by NYSE Euronext.
NYSE Euronext in Japan NYSE Euronext is committed to serving the Asia-Pacific region, which has experienced rapid growth in sophisticated electronic trading and increased demand for advanced trading technology with fast, reliable linkages between the U.S., Europe, and Asia.
To enhance its ability to quickly deliver technology services to clients in Japan, including the TSE, NYSE Euronext has expanded its Tokyo office to include representatives of its commercial technology unit, NYSE Euronext Advanced Trading Solutions. In addition to its recently expanded presence in Tokyo, NYSE Euronext has operations in Beijing, Hong Kong, and Singapore.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such
forward-looking statements.
Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext's reference document for 2006 ("document de reference") filed with the French Autorit des March's Financiers (Registered on June 6, 2007 under No. R.07-0089), 2007 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorite des March's Financiers.
In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected.
The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
Tokyo Stock Exchange Group, Inc.: Mitsuo MIWA,
81-3-3665-1051 Media Relationsm-miwa@tse.or.jp
or NYSE Euronext:
+31.20.550.4488 (Amsterdam)
+32.2.509.1392 (Brussels)
+351.217.900.029 (Lisbon)
+44.20.7379.2789 (London)
+1.212.656.2411 (New York)
+33.1.49.27.11.33 (Paris)
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