Tokyo Stock Exchange to launch arrowhead in 2010

Tokyo Stock Exchange, Inc. announces that after deliberating on the topic, it has decided to launch “arrowhead” (i.e. the next generation trading system) on January 4, 2010.


Beginning from when development on "arrowhead" began, the TSE has made announcements that it would launch the next generation trading system in the latter half of Year 2009. The TSE has since made all trading participants' smooth transition from the current trading system to "arrowhead" its top priority when deciding on a specific launch date.

As a result, the date of January 4, 2010 was decided upon for the following and related reasons:

1. it will allow the TSE and trading participants to secure an adequate test peirod of 6 months or more with regard to interface tests which will begin in May 2009; and
2. it will allow the TSE and all trading participants to utilize the four straight days of holidays at the year-end and new-year to conduct final system transition and confirmation tests. In addition, the launch date has been approved by the working group comprised of CIOs from trading participants.

The TSE maintains its commitment to continue develop and launch “arrowhead,”,and greatly appreciates your continued cooperation.
arrowhead

"arrowhead" is the next generation trading system that combines low latency, high reliability, and scalability. All cash equity products such as stocks and CBs will be traded by the auction method through this new system.Particularly striking characteristics of the new system are its low latency with an order response period of 10 milli-seconds or less, as well as high reliability for protecting trading information such as orders, executions, and order books by synchronized 3-node data back-up memory. These specifications place this new system at the highest level of exchange trading systems in the world.

Contact
Tokyo Stock Exchange Group, Inc.
Corporate Communications
TEL: +81-3-3666-1361