Tokyo Stock Exchange Chooses NYSE Euronext Technology For Its Options Market

Tokyo Stock Exchange Inc. (TSE) is proud to announce the introduction of Tdex+, a new trading system based on LIFFE CONNECT® and AEMS technology and services, for its options trading market. LIFFE CONNECT®, which is already operational in Japan, is the advanced electronic trading system employed by Liffe, the NYSE Euronext subsidiary and Europe’s largest derivatives exchange based on traded value, and is rated highly by investors worldwide for its performance, functionality and global distribution. The selection of LIFFE CONNECT® and NYSE Euronext Advanced Trading Solutions follows the Tokyo Stock Exchange’s rigorous evaluation of several electronic trading systems in use at major exchanges worldwide. Tdex+ is scheduled to start in the early first half of 2009. TSE is also planning to introduce major operational and regulatory improvements, including new Market Maker functionality for the Japanese market, with the launch of Tdex+. The Market Maker functionality, a popular mechanism deployed in European and US markets, will populate buy and sell quotes across the options market, a necessity in providing sufficient liquidity to this market. Through building and maintaining a state-of-the-art trading system that attracts investors worldwide, TSE demonstrates its commitment to developing a highly liquid options market that meets Japanese law and cultural practice, to benefit both institutional and public sector users. Details of the business rules for the new system will be made public as soon as the specifications for the system are laid out. Atsushi Saito, President and CEO of the Tokyo Stock Exchange Group says, "The Japanese options trading market contains significant growth potential. We believe promoting this market will bring forth a great investment opportunity for not only the Japanese investor, but investors worldwide. We have chosen NYSE Euronext as a valued partner in developing this market. NYSE Euronext’s technical and operational expertise in various markets such as the capital and derivatives markets, within multiple localities in Europe and USA is of indispensable value to us.” "We greatly appreciate and thank the Tokyo Stock Exchange for choosing NYSE Euronext Advanced Trading Solutions,” said Duncan Niederauer, CEO, NYSE Euronext. "This agreement builds on our alliance and partnership with the TSE, and we believe the TSE can make good use of our knowledge, leadership and technology advantage in derivatives trading. Together, we will develop and introduce a superior platform that serves the interests of customers, addresses the demands for speed and capacity, and ensures that Tdex+ proves beneficial to the Japanese investor and financial marketplace.” About the Tokyo Stock Exchange Tokyo Stock Exchange, Inc. is the premier exchange for Japanese cash equities and derivative products from the perspective of investors both in Japan and abroad. In 2007, TSE recorded an average daily trading volume of 2,294 million shares, and daily average trading value of JPY 3,070.3 billion