Until now, OSE has expressed its view that dual-listing can serve as a kind of trading continuity system between markets, which will be useful in case of emergency. Through the implementation of ETS, issues listed only on OSE will continue to be traded on JASDAQ. OSE assumes, as a result, a certain trading continuity system is established for the issues listed on OSE, regardless of whether they are listed only on OSE or dual-listed on other exchange(s).

Outline of Emergency Trading System

1. Method - Continue trading of the issues listed on the exchange whose trading is suspended by registering them on the trading platform of the other exchange, in case of emergency.
2. Issues to be covered - Issued listed only on either of OSE or Jasdaq.
3. Timing of Activation, etc. - Trading through ETS will be activated, in principle, from the next business day. The trading continuity system will not be activated in case a short-term recovery is expected.
4. Trading rules, etc. - The rules on trading will be subject to the rules & regulations of the exchange on which trading is carried out. (Issues traded by the Market Maker Method on Jasdaq will be traded by the Auction Method when traded on OSE.) Real-time information of stock prices will be distributed by the name of the exchange on which trading is carried out. No new position will be allowed to opened through Standardized Margin Trading.
5. Self-Regulation, etc. - Self-regulation activities (listing administration, trading surveillance and so on) and real-time surveillance will continue to be conducted by the exchange whose trading is suspended.
6. Others - Orders placed by a customer with Transaction Participants before the activation of ETS shall become void, regardless of "validity period of customer orders" (eg. valid for one week, etc.). The customer shall place the order anew with Transaction Participants.

Schedule for Implementation

To be implemented at the earliest possible date after making necessarry arrangements, such as adaptation of platforms.