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-====== SBI Japannext ======
-SBI Japannext is a proprietary trading system (PTS) which offers traders and investors an alternate venue for trading in Tokyo-listed stocks.
-[[http://en.japannext.co.jp/home | Homepage]]\\
-Currency: Japanese Yen (JPY)
-===== Trading Hours & Calendar =====
-[[http://en.japannext.co.jp/features | Trading Hours]]\\
-Holiday Calendar - same as the primary exchange - [[tse|TSE]]
-===== Trading Summary =====
-Powered by NASDAQ OMX's exchange technology, SBI Japannext offers an advanced, low-latency trading system. More information on the features of SBI Japannext can be found [[http://en.japannext.co.jp/features | here]].
-==== Lit Order-types ====
-  * Limit Buy/Sell/Short (DAY/IOC)
-  * Reserve Limit Buy/Sell/Short (DAY)
-==== Traded Markets ====
-  * [[tse|Tokyo Stock Exchange (TSE)]]
-==== Basic Market Rules ====
-  * Lot Size: Although lot size is generally the same as the primary exchange, it will differ in some cases as specified [[http://en.japannext.co.jp/trading/trd_unit_adj | here]].
-  * Tick Size: SBI Japannext offers a smaller tick sizes than the primary exchange as follows:
-^ Price Range (Yen) ^ Tick Size (Yen) ^
-| up to 3,000 | 0.1 |
-| 3,000 up to 5,000 | 0.5 |
-| 5,000 up to 30,000 | 1 |
-| 30,000 up to 50,000 | 5 |
-| 50,000 up to 300,000 | 10 |
-| 300,000 up to 500,000 | 50 |
-| over 500,000 | 100 |
-  * Short Sale Rules: Naked short selling is prohibited, locates are required and an uptick rule is in place. More detail can be found [[http://en.japannext.co.jp/pub_data/pub_onboarding/Japannext_PTS_Trading_Rules.pdf | here]].
-  * Circuit Breakers: SBI Japannext trading may limit or halt transactions under a number of circumstances as defined [[http://en.japannext.co.jp/regulations/operations | here]].
-==== Auction Mechanisms ====
-SBI Japannext does not have any opening or closing auctions.
-===== Additional Info =====
-===== See Also =====
-  * [[alternativetradingsystems|Alternative Trading Systems]]
-  * [[equity_markets|Equity Markets]]
-===== References =====