[arrowhead4.0] Are there any conditions to use the STP function?

The STP function is applicable only to virtual servers (order/notice) used exclusively by a specific investor (including a set of investors which are reasona... Show Details

[arrowhead4.0] How are orders that are not registered on the order book distributed in Market by ...

The orders which have executed/invalid (the order information of which immediately executed/invalid fully) without being registered on order book will not be... Show Details

[arrowhead4.0] How are Close short-selling orders handled during Pre-Closing?

Based on the final executed price of Zaraba, etc., a determination of whether there is a violation of short selling price regulations is made immediately. If... Show Details

[arrowhead4.0] Is it correct to understand that a on-close order could be placed and will be acce...

On-close orders will become valid and be registered to the order book immediately. Show Details

[arrowhead4.0] Are there any modifications for messages delivered to Query Virtual Server?

There will be changes due to the introduction of Closing Auction. Please refer to the System Interface Specification for arrowhead for details. Show Details

[arrowhead4.0] What is Market by Order (MBO)?

With the current TSE's market data service (FLEX Standard and Full), market information is distributed in units of price (Market by Price). However, through ... Show Details

[arrowhead4.0] In the FLEX Standard ST-Status Flag, is there a case that "B0: Itayose" is not set...

After a Special Quote is shown, if the Special Quote is removed without updating Special Quote price, "Space" will be set instead of "B0: Itayose". Show Details

[arrowhead4.0] After FLEX Standard ST-Status Flag B0 Special Quote is disappeared, is there a cas...

FLEX disseminates "B0: Itayose", if a Special Quote is removed after the Special Quote is newly shown and the Special Quote price has been updated more than ... Show Details

[arrowhead4.0] What is the monitoring reference price for Sequential Trade Quote in arrowhead?

There are two cases of "reference price" when Sequential Trade Quote is shown.1. If a single order is likely to trigger a series of executions that will move... Show Details

[arrowhead4.0] What is the Cancel on Disconnect (COD) of arrowhead risk management function?

For the outline of COD function, please refer to the following JPX webpage.URL: https://www.jpx.co.jp/english/systems/equities-trading/01.html Show Details