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Overview
The Tokyo Stock Exchange (Tokyo Kabushiki Torihiki) was established on May 15, 1878 under the direction of Finance Minister Okuma Shigenobu and capitalist advocate Shibusawa Eiichi. Trading began on June 1st.
This exchange was later combined with 10 other stock exchanges in major japanese cities to form the Japanese Securities Exchange. -
The Nagasaki bombing on August 9, 1945 caused the shut down of the TSE.
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The Tokyo Stock Exchange reopened on May 16, 1949, as its current name, Tōkyō Shōken Torihikijo.
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The Tokyo Stock Price Index (TOPIX) was established on July 1, 1969. The index is calculated to give an overall idea of how well the market is performing.
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T-Bonds were introduced with the US, showing a significant globalization and expansion since the US is one of the biggest economies in the world
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The Floor Order Routing and Execution System (FORES) is a computerized processing system for small orders. This system is designed to replace manual order books with electronic order books, and computerized the reporting and confirmation process.
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TSE continues to show its success
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The Tokyo stock exchange closed for a day to switch to a fully electronic trading system for all transactions. This was seen as an improvement in efficiency and competitiveness.
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On December 8, 2005 an employee at Mizuho Securities Co., Ltd. mistakenly placed an order to sell 600,000 shares at ¥1, instead of an order to sell 1 share at ¥600,000. Mizuho failed to catch the error and the Tokyo Stock Exchange initially blocked attempts to cancel the order. This resulting in a net loss of US$347 million shared between the TSE and Mizuho.
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The Tokyo Stock Exchange confirmed plans to merge with their domestic rival, the Osaka Securities Exchange. Together they will become Japan`s largest exchange group and strengthen the TSE`s position of third largest exchange in the world.
