OSE Overview

The OSE (Osaka Securities Exchange) is the leading Derivatives Exchange in Japan. The Exchange was originally established in 1878 as Osaka Stock Exchange Co., Ltd; by 1949, Osaka Securities Exchange was established. OSE is part of the Japan Exchange Group (JPX), which is the company created by the merger of Tokyo Stock Exchange (TSE) and OSE.

The Nikkei 225 Futures and Options, based on Japan’s leading stock index, the Nikkei 225, are OSE’s flagship products. OSE launched the Nikkei 225 mini in July 2006, creating investment opportunities for retail investors.

In 2016, OSE introduced the Next Generation Derivatives Trading System (Next J-GATE) platform, which includes a new ITCH price feed in addition to OM API changes.

OSE Exchange API

TT® supports the following:

  • Prices: ITCH / OM Combo
  • Orders: OMAPI

Matching Engine

The OSE matching engine is located in Tokyo.

Matching Algorithms

Prices at OSE are determined through Price/Time Priority, called Zaraba. To accomodate transactions conducted at closing price, OSE has introduced a Closing Auction system, referred to as Itayose, which is also present during Pre-Open and determines the opening price. In the Closing Auction system, matching is made at the same time as the closing of the order acceptance period.

Connectivity Options

Refer to TT Access for more details about your connectivity options for connecting to TT.