Japanese Stock Market Research

Topics: Stock market, Tokyo Stock Exchange, Stock market index Pages: 3 (723 words) Published: February 19, 2013


Owned by the japan exchange group
1959 to the end of the former stock trading floor

Tokyo Stock Exchange, Inc.(TSE) calculates and publishes TOPIX(Tokyo Stock Price Index) and its sub-indices including TOPIX New index Series etc. Each index is free-float adjusted market capitalization-weighted and reflects market movements of the market capitalization to its base market value. The characteristics of indices are as follows. 1.TOPIX

TOPIX is a free-float adjusted market capitalization-weighted index that is calculated based on all the domestic common stocks listed on the TSE First Section. TOPIX shows the measure of current market capitalization assuming that market capitalization as of the base date (January 4, 1968) is 100 point. (2)TOPIX New Index Series

(3)TOPIX Sector Indices
(4)TOPIX-17 Series
(5)Size-based TOPIX Sub-Indices
(6) TOPIX Style Index Series
(7) Dividend Index
2.Tokyo Stock Exchange Second Section Stock Price Index
3.Tokyo Stock Exchange Mothers Index

Trading volume

Clearing and settlement
Trades cleared by JSCC are settled at the following organizations.
Stocks and convertible bonds ---Japan Securities Depository Center, Inc. (JASDEC) 
Japanese government bonds---The Bank of Japan 
Funds---The Bank of Japan or commercial banks which JSCC designates as fund settlement banks. Clearing Organization

The main functions of the clearing organization are assumption of obligations from participants, cross-market netting, settlement instruction, and settlement guarantee. Assumption of obligations
When transactions are effected, sellers have the obligation of delivering securities and the right of receiving cash, and buyers have the obligation of paying cash and the right of receiving securities. The clearing organization assumes these obligations and acquires these rights as a central counterparty (CCP) between sellers and buyers.
As a result of this...
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