Trading

Convertible Bonds (CBs) are traded on arrowhead system.


Trading Hours	9:00 am - 11:30 am 12:30 pm - 15:00 pm
Trading Unit	JPY 100 thousand, JPY 500 thousand, JPY 1 million, JPY 2 million, JPY 3 million, JPY 4 million, or JPY 5 million in par value (depends on issue)
Tick Size	JPY 0.05 per JPY 100 in par value
Types of Orders	Limit orders and market orders
Daily Price Limit	Product of the price limit of underlying stock and conversion ratio (Minimum JPY 5)
Trade Execution	Individual auctions for each issue (same as stocks)
Conditional orders	On open and IOC are available (On close and funari are not available)
Types of Trading and Settlement Dates	Cash transactions (T+0) Regular transactios (T+3)
Settlement	Account transfer on JASDEC

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