Tokyo Stock Exchange publicized that it would begin to work with relating entities on a project to change the Transfer Institution for book-entry transfer of foreign stocks listed on the stock exchange from Japan Securities Settlement and Custody, Inc. (JSSC) to Japan Securities Depository Center, Inc (JASDEC).
The JSSC, a wholly-owned subsidiary of the TSE, has been acting as the Transfer Institution for the book-entry transfer of foreign stocks listed on TSE since 1973, when the TSE opened a market for foreign stocks with itself.
JASDEC is going to establish an internal sub-committee for the project in November 2005, and relevant entities such as securities houses and sub-custodians will participate in the sub-committee to decide the details of the project. Tentatively, JASDEC is scheduled to begin to act as Transfer Institution in place of the JSSC around March through April 2006.