Sanction Against Member


Please be informed that, as of today, TOCOM has imposed the following sanction against a TOCOM member.

Member Name

Yamazen Shoji Co., Ltd.


In accordance with the Article 130.1.8 of the Market Rules, TOCOM will impose a fine in the amount of 19 million Japanese Yen, and will also suspend the member from trading for its proprietary account, other than trades for the purpose of transaction settlement, for 15 business days: from Friday, March 8, 2013 to Friday, March 29, 2013 (Clearing Period basis).


The member repeated the act of placing orders during the order acceptance period and cancelling immediately before order matching at the opening of a session.This occurred several times across various products during the period from January 2012 to July 2012.

These acts impair the reliability of the market and are regarded as a violation of the fair and equitable principles of transactions stipulated in the Article 141 of the Market Rules.

Please see Case study (example of unfair trading)