According to TSE, in addition to the current service in which the TOPIX and other price indexes are disseminated every second, the indexes in the new service will be calculated with each change in the price of a constituent stock and disseminated on the millisecond level.
The new service will feature new ‘best quote indexes’ which are calculated based on the best quotes for each individual index constituent.
Indexes are calculated and disseminated with each change in a component stock’s last sale price, etc. and/or best quote.
TSE said that changes in market price that previously took as long as one second to be reflected in the index will now take within 10 milliseconds.
The index will be disseminated through the Market Information System (FLEX Standard service).
Hitachi advanced technology enabled the service to speed up such as processing stock price information, generated 8,000 data per second, in milliseconds order latency.
