Osaka Securities Exchange - Chronology

Chronology

• June 1878 - Osaka Stock Exchange Co., Ltd. established

• June 1943 - The Exchange became the Osaka Division of the Japan Securities Exchange during the Pacific War.

• August 1945 - Japan Securities Exchange suspended operations

• April 1947 - Japan Securities Exchange dissolved.

• May 1948 - A new Securities and Exchange Law enacted

• April 1949 - Osaka Securities Exchange established

• June 1951 - Credit transaction system introduced

• April 1956 - Bond market reopened

• October 1961 - Second section for stocks established

• May 1970 - Convertible bond market opened

• October 1973 - The Exchange became an associate member of the Federation Internationale des Bourses de Valeurs (FIBV)

• September 1974 - Computerized Market Information System began operation

• April 1982 - Constitutional restrictions on the membership of foreign securities companies removed

• June 1983 - The Exchange became a member of EASEC (EAOSEF in 1990: East Asian and Oceanian Stock Exchanges Federation)

• November 1983 - "Special Designated Issues" System, called "New Second Section", introduced

• December 1984 - Ten Minute Earlier Opening System for representative issues selected from among the first section stocks introduced

• June 9, 1987 - Trading in "Osaka Stock Futures 50 (OSF50)" started

• September 1988 - Trading in Nikkei Stock Average Futures (Nikkei 225 Futures) started

• October 1988 - Computer-assisted trading system for OSF50 and Nikkei 225 Futures began operation

• June 1989 - Trading in Nikkei Stock Average Options (Nikkei 225 Options) started

• December 1989 - Computer-assisted trading system for Nikkei 225 Options began operation

• March 1991 - Computer-assisted trading system for stocks began operation

• May 1991 - The Exchange became a member of the IAOECH (IOMA in 1993:International Options Markets Association)

• December 1991 - The country fund market opened

• January 1992 - The Exchange received a No-action Letter from US Commodity Futures Trading Commission (CFTC) for Nikkei 225 Futures contract

• March 1992 - The "OSF 50" ceased trading in its futures contracts

(Trading of OSF 50 was ceased on March 20, 1992.)

• April 1992 - The Japan Securities Depository Centre (JASDEC), Osaka Office began its operation at the OSE

• February 1994 - Trading in Nikkei Stock Index 300 Futures and Options (Nikkei 300 Futures / Options) started

• May 1994 - The Exchange received a No-action Letter from US Commodity Futures Trading Commission (CFTC) for Nikkei 300 Futures contract.

• October 1994 - The Exchange became an affiliate member of the International Organization of Securities Commissions (IOSCO)

• May 1995 - Trading in "Nikkei 300 Stock Index fund" started

• January 1996 - "New Market", a system with "Issues listed under alternative listing criteria",introduced

• April 1996 - Nikkei 300 Futures Inter-month Spread Trading started

• October 1996 - Foreign stock market established

• May 1997 - Nikkei 225 Futures Inter-month Spread Trading started

• July 1997 - Equity Options Trading started

• December 8, 1997 - Trading floor for stocks closed and shifted completely to a computer assisted trading system

• December 1997 - Cross Trading System (for large block trades, execution at closing price and basket trades) started

• June 1998 - Trading in Sector Index Futures and Options started(Trading of these products was ceased on November 30, 2000.)

• December 1998 - New Market Section established

• January 1999 - J-NET Market opened

• March 1999 - The "Securities Transaction Tax" and "Exchange Tax" abolished

• June 1999 - A license contract for the use of SPAN with Chicago Mercantile Exchange concluded

• July 1999 - The Exchange obtained a No-Action Letter from the US Securities and Exchange (SEC) for Nikkei 225 Options, Nikkei 300 Options and Equity Options

• July 1999 - Full computerization of trading at the OSE was completed

• October 1999 - OSE ED-NET, an electronic disclosure network system established

• November 1999 - A clearing organization method introduced

• November 1999 - Non-Auction Large Block Trades for Stock Index Futures and Options started

• December 1999 - An agreement to establish the NASDAQ Japan Market announced

• February 2000 - Private Finance Initiative (PFI) market established

• May 2000 - Nasdaq Japan Market established

• June 2000 - Trading on Nasdaq Japan Market started

• August 2007 - Gold-Price-Linked exchange-traded fund is listed in OSE (The first case in Japanese Market, besides stock exchange traded fund).

• September 2007 - Introduction of Evening Session for all the Stock Index Futures and Options

• October 2007 - SSE50-Linked exchange-traded fund is listed in OSE (The first case treated foreign Stock market index in Japanese Market, besides stock exchange traded fund).

• July 2012 - Japan Fair Trade Commission approved OSE's planned merger with the Tokyo Stock Exchange

• January 2013 - OSE, TSE to merge into the Japan Exchange Group (日本取引所グループ, Nihon Torihikijo Gurūpu?)