The TSE was founded on May 15, 1878, as the Tokyo Kabushiki Torihikijo (東京株式取引所, Tokyo Stock Exchange). It was the first stock exchange established in Japan. The TSE was renamed the Tokyo Stock Exchange in 1943.
The TSE is owned by the Japan Exchange Group (JPX), a holding company it also lists (TYO: 8697). JPX was formed from its merger with the Osaka Exchange; the process began in July 2012 when the Japan Fair Trade Commission approved it. JPX itself was launched on January 1, 2013.
The TSE is a marketplace where securities listed on the TSE are traded. It comprises three markets: the First Section for large companies, the Second Section for mid-sized companies, and the Mothers (Market of the high-growth and emerging stocks) market for high-growth startup companies. A fourth market, the JASDAQ, was also established in 1999 for domestic and international growth companies.
Trading on the TSE is conducted through an open outcry auction system and an electronic trading system. The TSE is open for trading from 9:00 am to 3:00 pm, Monday to Friday.
The TSE is a self-regulatory organization responsible for supervising and regulating its listed companies and market participants. It also sets rules and standards for listed companies, market participants, and discipline violators. The TSE is also responsible for disseminating market information and operating the TSE's clearing and settlement system.
The TSE is a member of the World Federation of Exchanges and the Organization for Economic Co-operation and Development (OECD). It is also a founding member of the Asian and Oceanian Stock Exchanges Federation.