Change in Trading Hours

Background

In conjunction with the scheduled release of Arrowhead 4.0 on November 5, 2024, TSE has decided to change the closing time of its trading hours from the current 15:00 to 15:30. In response to this change, Japannext will also be changing the trading hours of both the daytime and nighttime sessions to ensure the smooth operation of our PTS.

Summary of Change

For the Daytime Session, we will maintain one hour of post-closing trading opportunity even after the TSE's closing time is changed to 15:30. As such, the closing time for our J-Market (Daytime Session), X-Market, and U-Market will be changed to 16:30.

J-Market (Daytime Session) X-Market・U-Market   

Before Change: Closing time　16:00  

After Change: Closing time　16:30

Furthermore, for the Daytime Session:

• "End of trading" event will be at 16:30 instead of 16:00.

• System will go down and all sessions will be disconnected at 17:00 instead of 16:30.

• End-of-Day files will be delivered by 18:30 instead of 18:00.

• Closing time for Margin Orders will be at 15:30. (approved)

For the Nighttime Session, following the TSE's extended trading hours, the Osaka Exchange will change the start time of Nikkei 225 futures trading from 16:30 to 17:00. Accordingly, we will also change the start time of J-Market (Nighttime Session) trading from 16:30 to 17:00.

J-Market (Nighttime Session)

Before Change: Starting time　16:30

After Change: Starting time　17:00

Summary of Technical Changes

For the Daytime Session:

• OUCH System Event Message ‘E’ (End of Day) from 16:00:00 to 16:30:00

• FIX Trading Session Status 340=3 (TradSesStatus) from 16:00:00 to 16:30:00

• ITCH System Event Message ‘M’ (End of Market Hours) from 16:00:00 to 16:30:00

• ️ITCH System Event Message ‘E’ (End of System Hours) from 16:00:00 to 16:30:00

• ️ITCH System Event Message ‘C’ (End of Messages) from 16:00:05 to 16:30:05

• Soup End of Session Message from 16:30:00 to 17:00:00

• ️Reports like EOD, Tickdata available from 18:30:00

For the Nighttime Session:

• Security Master File and Base Price File will be available from 16:45:00

• Connection to the Nighttime Session will be available from 16:50:00

• OUCH System Event Message ‘S’ (Start of Day) from 16:30:00 to 17:00:00

• FIX Trading Session Status 340=2 (TradSesStatus) from 16:30:00 to 17:00:00

• ️ITCH System Event Message ‘S’ (Start of System Hours) from 16:30:00 to 17:00:00

• ️ITCH System Event Message ‘Q’ (Start of Market Hours) from 16:30:00 to 17:00:00

Schedule

• June 3 (Monday): UAT Release

• June 15 (Saturday) onwards: Production Weekend Tests

• November 2-3 (Saturday-Sunday): Final Production Weekend Test

• November 4 (Monday): Reserved for Emergency Rollback

• November 5 (Tuesday): Production Release