Market Making Incentive Scheme

Overview of ETF Market Making Scheme

With the background of growing importance of the people's stable asset forming, TSE has introduced ETF Market Making Incentive Scheme since July 2, 2018, in order to improve the liquidity of ETFs, which are one of the products that contribute to small-amount diversified investment.
TSE designates market makers for each issue based on the application and will provide incentives to designated market maker who fulfilled the obligation. With continuous quote by market maker, a sufficient amount of orders are shown at the fair price, so that investors can buy or sell ETFs at a desired timing.
Moreover, this scheme involves having asset managements as sponsors for additional incentives as a reward to bespoke obligation (Sponsored ETF Market Making Scheme). It is expected that more quote will be shown by market makers with this arrangement.

List of ETFs signed up by Market Maker

ST-1 Handling of ETF Market Making Scheme
ST-2 (for market makers) List of ETFs that can be market-making
Update of ETF Market Making Scheme / Ver2.0 (From April 2024)
[Ref.]Update of ETF Market Making Scheme Ver2.0 (From January 2024, For JPX Prime 150)
Update of ETF Market Making Scheme Ver2.0 (From January 2024, For MSCI ACWI)
[Ref.]Update of ETF Market Making Scheme Ver2.0 (From October 2023)

Market Maker Sign-up Status

For market makers who have signed up for each ETF, please see below.

Market Maker Sign-up Status (As of November 1, 2024)

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Market Making Incentive Scheme

Overview of ETF Market Making Scheme

Market Maker Sign-up Status