(Things Exempted from Application of Provisions on Confirmation of a Guarantee of Borrowed Securities)
第九条の三 令第二十六条の二の二第五項に規定する内閣府令で定める取引は、次に掲げる取引(第二十号から第三十六号までに掲げる取引については、当該取引として空売りを行うことが当該空売りを受託した金融商品取引所の会員等及び取引所金融商品市場においてする当該空売りの委託の取次ぎの申込みを受けた者において確認が行われているものに限る。)とする。
Article 9-3 (1) The transactions specified by Cabinet Office Order that are provided for in Article 26-2-2, paragraph (5) of the Order are the following transactions (but only those as which Members, etc. of the Financial Instruments Exchange that have been entrusted with the Short Selling and a person that has received an offer for that person to broker another person's entrustment with Short Selling on a Financial Instruments Exchange Market have confirmed that the Short Selling will be conducted, as regards the transactions set forth in item (xx) through item (xxxvi)):
一 法第二条第二十一項第一号に掲げる取引
(i) the transactions set forth in Article 2, paragraph (21), item (i) of the Act;
二 発行日取引
(ii) a When-Issued Transaction;
三 次に掲げる有価証券につき空売りを行う取引
(iii) a transaction in which the person in question conducts Short Selling for the following Securities:
イ 法第二条第一項第一号から第三号までに掲げる有価証券
(a) the Securities set forth in Article 2, paragraph (1), item (i) through item (iii) of the Act;
ロ 法第二条第一項第五号に掲げる有価証券(新株予約権付社債券及び第九号ニに規定する交換社債券を除く。)
(b) the Securities set forth in Article 2, paragraph (1), item (v) of the Act (excluding corporate bond certificates with share options and the Exchangeable Corporate Bond Certificates prescribed in item (ix), (d));
ハ 法第二条第一項第十七号に掲げる有価証券のうちイ又はロに掲げる有価証券の性質を有するもの
(c) those of the Securities as set forth in Article 2, paragraph (1), item (xvii) of the Act that have the nature of the Securities set forth in (a) or (b); and
ニ 有価証券信託受益証券でハに掲げる有価証券を受託有価証券とするもの
(d) Beneficiary Certificates of Securities in Trust of which the Entrusted Securities are the Securities set forth in (c);
四 金融商品取引所の会員等が当該金融商品取引所に上場されている有価証券(外国投資証券及び法第二条第一項第十七号に掲げる有価証券のうち株券の性質を有するもの(以下この号において「外国投資証券等」と総称する。)並びに有価証券信託受益証券で外国投資証券等を受託有価証券とするもの及び同項第二十号に掲げる有価証券で外国投資証券等に係る権利を表示するものに限る。)につき自己の計算による空売りを行う取引であって、当該取引に関し、外国金融商品市場において当該会員等が当該空売りに係る有価証券の買付け(当該空売りに係る有価証券が有価証券信託受益証券である場合には、当該有価証券信託受益証券に係る受託有価証券と同一の銘柄の有価証券で当該会員等が既に保有しているもの又は外国金融商品市場において買付けを行うものを信託して当該有価証券信託受益証券を取得することを含み、当該空売りに係る有価証券が同号に掲げる有価証券(以下この号において「預託証券」という。)である場合には、当該預託証券に表示される権利に係る有価証券と同一の銘柄の有価証券で当該会員等が既に保有しているもの又は外国金融商品市場において買付けを行うものを預託して当該預託証券を取得することを含む。)を行う取引を伴うもの(次に掲げるものに限る。)
(iv) a transaction in which a Member, etc. of a Financial Instruments Exchange conducts, on its own account, Short Selling of Securities listed on that Financial Instruments Exchange (but only for the Foreign Investment Securities or Securities as set forth in Article 2, paragraph (1), item (xvii) of the Act that have the nature of share certificates (hereinafter collectively referred to as "Foreign Investment Securities, etc." in this item), Beneficiary Certificates of Securities in a Trust wherein the Entrusted Securities are Foreign Investment Securities, etc., or Securities as set forth in item (xx) of that paragraph that indicate rights associated with Foreign Investment Securities, etc.) that is accompanied by a related transaction in which the Member, etc. conducts a purchase of Securities that are subject to the Short Selling by the Member, etc. in a Foreign Financial Instruments Market (or, if the Securities subject to the Short Selling are Beneficiary Securities of Securities in Trust, a related transaction in which the Member, etc. acquires those Beneficiary Securities of Securities in Trust by placing in trust Securities that it already holds or will purchase in a Foreign Financial Instruments Market which are of the same issue as the Entrusted Securities to which the Beneficiary Securities of Securities in Trust that are subject to the Short Selling pertain; or, if the Securities subject to the Short Selling are the Securities as set forth in Article 2, paragraph (1), item (xx) of the Act (hereinafter referred to as "Depository Receipts" in this item), a related transaction in which the Member, etc. acquires those Depository Receipts by placing on deposit Securities that it already holds or will purchase in a Foreign Financial Instruments Market which are of the same issue as the Securities to which the rights indicated on the Depository Receipts that are subject to the Short Selling pertain) (but only the transactions set forth in the following items):
イ 円滑な流通の確保のために売付けの注文と買付けの注文を継続的に行う場合の当該売付けの注文に基づく取引
(a) a transaction based on a sell order, if sell orders and buy orders are executed continuously in order to assure the smooth distribution of Securities;
ロ 買付けの注文に応じて売り付ける取引
(b) a transaction to sell in response to a buy order;
五 マーケットメイカーが、売付けの気配を出す取引所金融商品市場において当該売付けに係る気配に基づき自己の計算による空売りを行う取引
(v) a transaction in which a Market Maker conducts Short Selling on its own account in the Financial Instruments Exchange Market on which it quotes sale prices, based on the sale quotes;
六 買い付けた有価証券(取引所金融商品市場においてする空売りの委託又は委託の取次ぎの申込みをする者と通じて当該空売りの受託又は委託の取次ぎの引受けに代えて買い付けた当該空売りに係るものを除く。)であってその決済を結了していない有価証券の売付けを行う取引のうち、当該買い付けた有価証券により当該売付けの決済を行う取引
(vi) a transaction in which a person sells Securities purchased thereby (other than Securities associated with Short Selling that the person in question has purchased through a person offering to entrust the person in question with Short Selling on a Financial Instruments Exchange Market or to have the person in question broker another person's entrustment with the same, in lieu of undertaking to broker another person's entrustment with Short Selling) whose settlement has yet to be completed, and settles that sale with the Securities purchased thereby;
七 貸し付けている有価証券(借り入れたものを除く。)の売付けであって、その決済前に当該有価証券の返還を受けることが明らかな場合における当該有価証券の売付けを行う取引
(vii) a sale of Securities (excluding those that the person in question has borrowed) that are on loan to another person, in a transaction to sell those Securities in a situation in which it is clear that they will be returned prior to the settlement of the sale;
八 取引所金融商品市場における売買のうち、当該取引所金融商品市場を開設する金融商品取引所の業務規程で定める売買立会(午前立会又は午後立会のみの売買立会を含む。以下この章及び次章において同じ。)によらない売買による空売りを行う取引
(viii) a transaction in which the relevant person conducts Short Selling through purchase and sales on a Financial Instruments Exchange Market that are conducted outside of the trading session (inclusive of a trading session that is only a morning session or an afternoon session; hereinafter the same applies in this Chapter and the following Chapter) specified in the operational rules of the Financial Instruments Exchange that operates the Financial Instruments Exchange Market;
九 次に掲げる有価証券に付与された株券又は投資証券(以下この号において「株券等」という。)を取得する権利を行使しており、当該権利が行使された結果取得することとなる株券等の数量の範囲内で当該株券等と同一の銘柄の株券等の売付けを行う取引
(ix) a transaction to sell share certificates or Investment Securities (hereinafter referred to as "Share Certificates, etc." in this item) of the same issue as, and within the scope of the volume of, the Share Certificates, etc. that the relevant person, having exercised a right to acquire Share Certificates, etc. that is attached to one of the following Securities, will come to acquire as a result of that right having been exercised:
イ 新株予約権付社債券
(a) corporate bond certificates with share options;
ロ 新株予約権証券
(b) share option certificates;
ハ 新投資口予約権証券
(c) Investment Equity Subscription Rights Certificates;
ニ 法第二条第一項第二十号に掲げる有価証券で株券に係る権利を表示するもの
(d) the Securities set forth in Article 2, paragraph (1), item (xx) of the Act which indicate rights associated with share certificates;
ホ 金融商品取引所に上場されている社債券(新株予約権付社債券を除く。以下ホにおいて同じ。)又は店頭売買有価証券に該当する社債券であって、当該社債券の発行者である会社以外の会社が発行した株券により償還することができる旨の特約が付されているもの(社債券を保有する者が当該社債券の発行者である会社に対し、当該株券による償還をさせることができる権利を有しているものに限る。以下「交換社債券」という。)
(e) the corporate bond certificates listed on a Financial Instruments Exchange (other than corporate bond certificates with share options; hereinafter the same applies in (e)) or corporate bond certificates which fall under the category of Over-the-Counter Traded Securities, with a special provision that allows the redemption of the corporate bond certificates through the share certificates issued by a company other than the Issuer of the corporate bond certificates (but only those that gives the person that holds the corporate bond certificates the right to have the company, which is the Issuer of the bonds, redeem the corporate bond certificates through the share certificates; hereinafter referred to as "Exchangeable Corporate Bond Certificates"); and
ヘ 取得請求権付株券
(f) Share Certificates with Put Options;
十 有価証券の発行者が取得条項付株券に付与された権利を行使した場合に、当該権利が行使された結果取得することとなる株券の数量の範囲内で当該株券と同一の銘柄の株券の売付けを行う取引
(x) a transaction to sell share certificates of the same issue as, and within the scope of the volume of, the share certificates that the Issuer of Securities will come to acquire as a result of the rights attached to Share Certificates subject to Call having been exercised, if the Issuer of Securities has exercised that right;
十一 社債券(法第二条第一項第十七号に掲げる有価証券のうち社債券の性質を有するものを含み、新株予約権付社債券(同号に掲げる有価証券のうち新株予約権付社債券の性質を有するものを含む。)を除く。)であって、当該社債券の発行者以外の者が発行した株券等(株券又は次号イに掲げる有価証券をいう。以下この号において同じ。)により償還することができる旨の特約が付されているものについて、当該社債券が当該株券等により償還されることが決定した場合に、償還を受けることとなる当該株券等の数量の範囲内で当該株券等と同一の銘柄の株券等の売付けを行う取引
(xi) a transaction in which the relevant person sells Share Certificates, etc. of the same issue as, and within the scope of the volume of, the Share Certificates, etc. that the person will receive in redeeming corporate bond certificates (inclusive of the Securities set forth in Article 2, paragraph (1), item (xvii) of the Act which have the nature of corporate bond certificates, but not corporate bond certificates with share options (inclusive of the Securities set forth in that item which have the nature of corporate bond certificates with share options)) that carry a special provision indicating that they may be redeemed using Share Certificates, etc. (meaning share certificates or Securities as set forth in (a) of the following item; hereinafter the same applies in this item) that a person other than the Issuer of those corporate bond certificates has issued, if it has been decided that those corporate bond certificates will be redeemed using such Share Certificates, etc.;
十二 有価証券の発行者が株式分割、優先出資証券に係る優先出資(優先出資法に規定する優先出資をいう。以下同じ。)の分割、次に掲げる有価証券(以下この章において「投資信託受益証券等」という。)に係る受益権の分割(外国におけるこれに相当するものを含む。)及び投資口(
投資信託及び投資法人に関する法律(昭和二十六年法律第百九十八号)第二条第十四項に規定する投資口をいう。以下同じ。)の分割(以下この号において「株式分割等」という。)、株式無償割当て(
会社法第百八十五条に規定する株式無償割当てをいう。以下同じ。)、合併、会社分割、株式交換又は株式移転を行う場合において、当該株式分割等、株式無償割当て、合併、会社分割、株式交換又は株式移転により割り当てられた株式、優先出資、投資信託受益証券等に係る受益権(外国におけるこれに相当するものを含む。)及び投資口(以下この号において「株式等」という。)の数量の範囲内で当該株式等と同一の銘柄の有価証券の売付けを行う取引
(xii) a transaction in which the relevant person sells Securities of the same issue as, and within the scope of the volume of, the shares, Preferred Equity Investment (meaning Preferred Equity Investment as prescribed in the Act on Preferred Equity Investment; the same applies hereinafter), beneficial interest associated with the following Securities (hereinafter referred to as "Beneficiary Securities of an Investment Trust, etc." in this Chapter) (inclusive of anything equivalent to this in a foreign state), or investment equities (meaning investment equities as prescribed in Article 2, paragraph (14) of the
Act on Investment Trusts and Investment Corporations (Act No. 198 of 1951); the same applies hereinafter) (hereinafter referred to in this item as "Shares, etc.") that the person has been allotted due to a share split, split of Preferred Equity Investment associated with Preferred Equity Investment Certificates, split of beneficial interests associated with Beneficiary Securities of an Investment Trust, etc., or split of investment equities (hereinafter referred to as a "Share Split, etc." in this item), or due to an Allotment of Shares without Contribution (meaning Allotment of Shares without Contribution as prescribed in Article 185 of the
Companies Act; the same applies hereinafter), merger, company split, share exchange, or share transfer, if the Issuer of the Securities carries out that Share Split, etc., Allotment of Shares without Contribution, merger, company split, share exchange, or share transfer:
イ 法第二条第一項第十号に掲げる投資信託の受益証券(
投資信託及び投資法人に関する法律第四条第一項に規定する投資信託約款において、その投資信託財産の一口当たりの純資産額の変動率を金融商品市場における相場その他の指標の変動率に一致させるよう運用する旨を定めている投資信託に係るものに限る。)
(a) Beneficiary Securities of an Investment Trust set forth in Article 2, paragraph (1), item (x) of the Act (but only those associated with an investment trust for which it is provided in the basic terms and conditions for the investment trust prescribed in Article 4, paragraph (1) of the
Act on Investment Trusts and Investment Corporations that investment is to be made by having the rate of fluctuations in the Amount of Net Assets per unit for the investment trust property correspond to the rate of fluctuations in the quotations on a Financial Instruments Market or any other indicator);
ロ 法第二条第一項第十号に掲げる外国投資信託の受益証券(イに掲げる有価証券に類するものに限る。)
(b) beneficiary securities of a foreign investment trust set forth in Article 2, paragraph (1), item (x) of the Act (but only those similar to Securities set forth in (a));
ハ 法第二条第一項第十一号に掲げる有価証券のうち、外国投資証券であってロに掲げる有価証券に類似するもの
(c) those of the Securities as set forth in Article 2, paragraph (1), item (xi) of the Act that constitute Foreign Investment Securities similar to the Securities set forth in (b);
ニ 法第二条第一項第十四号に掲げる有価証券のうちイに掲げる有価証券に類似するもの
(d) those of the Securities as set forth in Article 2, paragraph (1), item (xiv) of the Act that are similar to the Securities set forth in (a);
ホ 法第二条第一項第十七号に掲げる有価証券のうちニに掲げる有価証券の性質を有するもの
(e) those of the Securities as set forth in Article 2, paragraph (1), item (xvii) of the Act that have the nature of the Securities set forth in (d);
ヘ 有価証券信託受益証券でロ、ハ又はホに掲げる有価証券を受託有価証券とするもの
(f) Beneficiary Certificates of Securities in Trust of which the Entrusted Securities are the Securities set forth in (b), (c) or (e); and
ト 法第二条第一項第二十号に掲げる有価証券でロ、ハ又はホに掲げる有価証券に係る権利を表示するもの
(g) Securities as set forth in Article 2, paragraph (1), item (xx) of the Act that indicate rights associated with Securities set forth in (b), (c) or (e);
十三 有価証券の募集若しくは売出し又は特定投資家向け取得勧誘若しくは特定投資家向け売付け勧誘等に応じており、当該募集若しくは売出し又は特定投資家向け取得勧誘若しくは特定投資家向け売付け勧誘等の結果取得することとなる有価証券の数量の範囲内で当該有価証券と同一の銘柄の有価証券の売付けを行う取引
(xiii) a transaction in which a person responding to a Public Offering, Secondary Distribution, Exclusive Solicitation of Professional Investors for Offers to Acquire, or Exclusive Offer to Sell, etc. to Professional Investors, sells Securities of the same issue as, and within the scope of the volume of, the Securities that the person will acquire a result of that Public Offering, Secondary Distribution, Exclusive Solicitation of Professional Investors for Offers to Acquire, or Exclusive Offer to Sell, etc. to Professional Investors;
十四 発行日取引により買付けを行った有価証券の受渡しの前において、当該有価証券の数量の範囲内で当該有価証券と同一の銘柄の有価証券の売付けを行う取引
(xiv) a transaction in which a person sells Securities of the same issue as, and within the scope of the volume of, the Securities that the person has purchased through a When-Issued Transaction, prior to the transfer of those Securities;
十五 空売り(令第二十六条の二の二第一項第二号に該当するものに限る。次項第五号及び第三項第四号において同じ。)を行う取引であって、次に掲げる理由により行う取引
(xv) a transaction in which the relevant person carries out Short Selling (but only Short Selling that falls under Article 26-2-2, paragraph (1), item (ii) of the Order; the same applies in item (v) of the following paragraph and paragraph (3), item (iv)) for any of the following reasons:
イ 株券の名義書換
(a) the entry of a name change on share certificates;
ロ 株券に記載された株式の数が金融商品取引所の定める売買単位の株式の数である株券への交換
(b) an exchange of share certificates for those of which the number of shares indicated thereon is the number of shares per trading unit which is specified by a Financial Instruments Exchange; or
ハ 毀損若しくは汚損又は商号変更に伴う新たな株券への交換
(c) the replacement of share certificates with new share certificates due to mutilation or defacement of the share certificates or change of trade names;
十六 投資信託受益証券等に係る次に掲げる取引
(xvi) the following transactions related to Beneficiary Securities of an Investment Trust, etc.:
イ 投資信託受益証券等をその投資信託財産又はこれに類する財産に属する有価証券に交換(
投資信託及び投資法人に関する法律施行令(平成十二年政令第四百八十号。以下「投信法施行令」という。)第十二条第一号イ若しくは第二号ハに規定する交換又はこれに類するものに限る。)をする請求を行っており、当該請求の結果取得することとなる有価証券の数量の範囲内で当該有価証券と同一の銘柄の有価証券の売付けを行う取引(第三号に掲げる取引を除く。)
(a) a transaction in which a person that has demanded to exchange the Beneficiary Securities of an Investment Trust, etc. with the Securities which belong to the investment trust property thereof or property similar thereto (but only to exchange them as prescribed in Article 12, item (i), (a) or item (ii), (c) of the
Order for Enforcement of the Act on Investment Trusts and Investment Corporations (Cabinet Order No. 480 of 2000; hereinafter referred to as the "Investment
Trust Act Enforcement Order") or one similar thereto), sells Securities of the same issue as, and within the scope of the volume of, the Securities that the person will come to acquire as a result of the demand (but not a transaction as set forth in item (iii)); and
ロ 投資信託受益証券等の取得(投信法施行令第十二条第二号ロに規定する取得又はこれに類するものに限る。)の申込みを行っており、当該申込みの結果取得することとなる投資信託受益証券等の数量の範囲内で当該投資信託受益証券等と同一の銘柄の投資信託受益証券等の売付けを行う取引
(b) a transaction in which a person that has offered to acquire Beneficiary Securities of an Investment Trust, etc. (but only to acquire them as prescribed in Article 12, item (ii), (b) of the Investment
Trust Act Enforcement Order or those similar thereto) sells Beneficiary Securities of an Investment Trust, etc. of the same issue as, and within the scope of the volume of, the Beneficiary Securities of an Investment Trust, etc. that the person will come to acquire as a result of the offer;
十七 金融商品取引所の会員等が当該金融商品取引所に上場されている投資信託受益証券等若しくは投資証券につき自己の計算による空売りを行う取引又は金融商品取引所の定める規則により当該金融商品取引所に上場されている投資信託受益証券等につき次に掲げる取引に係る注文を行う者として指定を受けた高速取引行為者が当該投資信託受益証券等につき当該金融商品取引所の定める方法に基づいて自己の計算による空売りを行う取引のうち、次に掲げるもの
(xvii) a transaction as follows, in which a Member, etc. of a Financial Instruments Exchange conducts Short Selling on its own account for the Beneficiary Securities of an Investment Trust, etc. or Investment Securities listed on that Financial Instruments Exchange, or in which a High-Speed Trader that has been designated as a person placing orders for the following transactions involving the Beneficiary Securities of an Investment Trust, etc. that are listed on a Financial Instruments Exchange pursuant to the rules specified by that Financial Instruments Exchange, conducts Short Selling on its own account for those Beneficiary Securities of an Investment Trust, etc. based on the method specified by the Financial Instruments Exchange:
イ 円滑な流通の確保のために売付けの注文と買付けの注文を継続的に行う場合の当該売付けの注文に基づく取引
(a) a transaction based on a sell order, if sell orders and buy orders are executed continuously in order to assure the smooth distribution of Securities; and
ロ 買付けの注文に応じて売り付ける取引
(b) a transaction to sell in response to a buy order;
十八 信用取引
(xviii) a Margin Transaction;
十九 金融商品取引所の会員等が次に掲げる価格で顧客と取引所金融商品市場外又は金融商品取引所の業務規程に定める売買立会によらない売買により当該顧客の有している有価証券(借り入れているもの及び令第二十六条の二に規定する場合に該当する場合における同条の有価証券を除く。)の買付けを行うことを約している場合に、当該買付けの数量の範囲内で当該有価証券と同一の銘柄の有価証券を当該会員等が自己の計算により空売りを行う取引(あらかじめ設定されたプログラムに従い売付けの注文が行われることとなっており、かつ、特別の勘定で管理されている場合に限り、第三号に掲げる取引を除く。)
(xix) a transaction in which a Member, etc. of a Financial Instruments Exchange, having promised its customer that it will purchase Securities held by that customer (but not those that the customer has borrowed and not the Securities as prescribed in Article 26-2 of the Order in a case constituting one as prescribed in that Article) at one of the following prices through a purchase and sale conducted outside a Financial Instruments Exchange Market or a trading session specified in the operational rules of a Financial Instruments Exchange, conducts, on its own account, a Short Selling transaction of Securities of the same issue as the Securities in question, within the scope of the volume of the Purchase in question (transactions as set forth in item (iii) are excluded, but only if sell orders will be executed in accordance with the program set in advance and the transaction is managed under a special account):
イ 当該買付けを行う日の当該取引所金融商品市場における当該有価証券と同一の銘柄の有価証券の売買立会における総売買代金を総売買高で除して得た価格(ロにおいて「出来高加重平均価格」という。)
(a) the price arrived at when the total trading value of Securities of the same issue as the Securities in question in the trading session on the relevant Financial Instruments Exchange Market as of the day on which the purchase will be conducted is divided by the total trading volume thereof (referred to as the "Volume Weighted Average Price" in (b)); or
ロ 出来高加重平均価格を目標として、当該会員等が当該有価証券と同一の銘柄の有価証券を当該取引所金融商品市場において分割して売付けを行った当該有価証券と同一の銘柄の有価証券の総売付代金を総売付高で除して得た価格
(b) the price arrived at when the total sales proceeds of Securities of the same issue as the relevant Securities which the Member, etc. has sold in installments in the Financial Instruments Exchange Market with the aim of achieving the Volume Weighted Average Price, which are of the same issue as the relevant Securities are divided by the total sales volume thereof;
二十 次に掲げる有価証券の売買価格と当該有価証券に付与された権利を行使することにより取得することとなる株券又は投資証券(以下この号及び次号において「株券等」という。)の売買価格の関係を利用して行う取引であって、当該有価証券の買付けを新規に行うとともに、当該株券等の数量の範囲内で当該株券等と同一の銘柄の株券等の売付けを行う取引
(xx) a transaction that a person carries out using the relationship between the trading price of the following Securities and the trading price of the share certificates or Investment Securities (hereinafter referred to as "Share Certificates, etc." in this item and the following item) that the person will come to acquire by exercising the rights attached to those Securities, in which the person newly purchases those Securities as well as selling Share Certificates, etc. of the same issue as and within the scope of the volume of the relevant Share Certificates, etc.:
イ 新株予約権付社債券
(a) corporate bond certificates with share options;
ロ 新株予約権証券
(b) share option certificates;
ハ 新投資口予約権証券
(c) Investment Equity Subscription Rights Certificates;
ニ 法第二条第一項第二十号に掲げる有価証券で株券に係る権利を表示するもの
(d) Securities as set forth in Article 2, paragraph (1), item (xx) of the Act that indicate rights associated with share certificates;
ホ 交換社債券
(e) Exchangeable Corporate Bond Certificates; and
ヘ 取得請求権付株券
(f) Share Certificates with Put Options;
二十一 次に掲げる有価証券の買付け(当該有価証券の発行者により当該有価証券を取得する権利を付与された場合を含む。)の残高に係る価格の変動により発生し得る危険を減少させるため、当該有価証券に付与された権利を行使することにより取得することとなる株券等の数量の範囲内で当該株券等と同一の銘柄の株券等の売付けを行う取引
(xxi) a transaction in which a person sells Share Certificates, etc. of the same issue as, and within the scope of the volume of, the Share Certificates, etc. that the person will come to acquire by exercising rights attached to the following Securities, in order to reduce the risk that could arise due to the fluctuation of prices associated with the outstanding balance from a purchase of those Securities (this includes a case in which the right to acquire the Securities has been granted by the Issuer of the Securities):
イ 新株予約権付社債券
(a) corporate bond certificates with share options;
ロ 新株予約権証券
(b) share option certificates;
ハ 新投資口予約権証券
(c) Investment Equity Subscription Rights Certificates;
ニ 法第二条第一項第二十号に掲げる有価証券で株券に係る権利を表示するもの
(d) the Securities set forth in Article 2, paragraph (1), item (xx) of the Act, which indicate rights associated with share certificates;
ホ 交換社債券
(e) Exchangeable Corporate Bond Certificates; and
ヘ 取得請求権付株券
(f) Share Certificates with Put Options;
二十二 有価証券に係る法第二条第二十一項第一号に掲げる取引(以下この号において「有価証券先物取引」という。)又は有価証券に係る同項第二号に掲げる取引(これに類似する外国市場デリバティブ取引を含む。以下この条において「有価証券指標先物取引」という。)に係る約定価額又は約定数値(同項第二号に規定する約定数値をいう。以下同じ。)の水準と有価証券指数等(有価証券先物取引に係る有価証券の価額の合計額又は有価証券指数(有価証券の価格に基づき算出される指数をいう。以下この条において同じ。)をいう。以下この条において同じ。)の水準の関係を利用して行う次に掲げる取引(これに準ずる取引で有価証券指数に係る同項第三号に掲げる取引を利用して行うものを含み、第三号に掲げる取引を除く。)
(xxii) a transaction as follows which is to be conducted using the relationship between the level of the agreed value or Agreed Figure (meaning an Agreed Figure as prescribed in Article 2, paragraph (21), item (ii) of the Act; the same applies hereinafter) for a transaction as set forth in Article 2, paragraph (21), item (i) of the Act that involves Securities (hereinafter referred to as a "futures contract involving securities" in this item) or for a transaction as set forth in Article 2, paragraph (21), item (ii) of the Act that involves Securities (or a foreign market derivatives transaction similar thereto; hereinafter referred to as a "futures contract involving a securities index" in this Article) and the level of the Securities Index, etc. (meaning the total value of the Securities or Securities Indices (meaning the indices calculated based on the prices of Securities; hereinafter the same applies in this Article) that the futures contract involving securities involves; hereinafter the same applies in this Article) (or any equivalent transaction conducted by using a transaction as set forth in Article 2, paragraph (21), item (iii) of the Act that involves a Securities Index, etc.; but not a transaction as set forth in item (iii) of this paragraph):
イ 買方有価証券指標先物取引等(有価証券先物取引の買付け又は有価証券指標先物取引のうち現実数値(法第二条第二十一項第二号に規定する現実数値をいう。以下同じ。)が約定数値を上回った場合に金銭を受領する立場の当事者となるものをいう。以下この条において同じ。)を新規に行うとともに、その取引契約金額の範囲内で銘柄の異なる複数の有価証券(当該有価証券の価額の合計額の変動が当該買方有価証券指標先物取引等に係る有価証券指数等の変動に近似するように選定したものに限る。)の売付けを行う取引
(a) a transaction in which the person in question both enters into a new long-futures contract involving a securities index, etc. (meaning the purchase of a futures contract involving securities or a futures contract involving a securities index in which the person in question will be the party to receive the money if the Actual Figure (meaning the Actual Figure as prescribed in Article 2, paragraph (21), item (ii) of the Act; the same applies hereinafter) exceeds the Agreed Figure; hereinafter the same applies in this Article) and also sells multiple Securities of different issues (but only Securities selected so that the fluctuations in the total value of the Securities approximate the fluctuations of the Securities Index, etc. that the long-futures contract involving a securities index, etc. involves) within the scope of the transaction contract value thereof; and
ロ 買方有価証券指標先物取引等の取引契約残高と対当する売方有価証券指標先物取引等(有価証券先物取引の売付け又は有価証券指標先物取引のうち現実数値が約定数値を上回った場合に金銭を支払う立場の当事者となるものをいう。以下この条において同じ。)の取引契約残高の全部又は一部を金融商品取引所の定める方法(有価証券先物取引においては買戻しに限る。)により決済するとともに、当該決済する金額の範囲内で銘柄の異なる複数の有価証券(当該有価証券の価額の合計額の変動が当該買方有価証券指標先物取引等又は当該売方有価証券指標先物取引等に係る有価証券指数等の変動に近似するように選定したものに限る。)の売付けを行う取引
(b) a transaction in which the relevant person, using a method specified by a Financial Instruments Exchange, settles all or part of the transaction contract balance of a short-futures contract involving a securities index, etc. (meaning the sale of a futures contract involving securities or futures contract involving a securities index in which the person in question will be the party to pay the money if the Actual Figure exceeds the Agreed Figure; hereinafter the same applies in this Article) that corresponds to the transaction contract balance of a long-futures contract involving a securities index, etc. (for a futures contract involving securities, this is limited to redemption), and also sells multiple Securities of different issues (but only the Securities selected so that the fluctuations in the total value of the Securities approximate the fluctuations of the Securities Index, etc. related to the long-futures contract involving a securities index, etc. or to the short-futures contract involving a securities index, etc.) within the scope of the amount so settled;
二十三 買方有価証券指標先物取引等の取引契約残高(これと対当する売方有価証券指標先物取引等の取引契約残高並びに当該買方有価証券指標先物取引等と同一の買方有価証券指標先物取引等に係る前号イ及びロの取引の額を控除した取引契約残高に限る。)に係る価格の変動により発生し得る危険を減少させるため、当該取引契約残高の範囲内で銘柄の異なる複数の有価証券(当該有価証券の価額の合計額の変動が当該買方有価証券指標先物取引等に係る有価証券指数等の変動に近似するように選定したものに限る。)の売付けを行う取引(これに準ずる取引で有価証券指数に係る法第二条第二十一項第三号に掲げる取引に伴い行うものを含み、第三号に掲げる取引を除く。)
(xxiii) a transaction in which the relevant person sells multiple Securities of different issues (but only Securities selected so that the fluctuations in the total value of the Securities approximate the fluctuations of the Securities Index, etc. related to the relevant long-futures contract involving a securities index, etc.) within the scope of the transaction contract balance of a long-futures contract involving a securities index, etc. (but only the transaction contract balance remaining after the deduction of the transaction contract balance of the short-futures contract involving a securities index, etc., corresponding to the long-futures contract involving a securities index, etc. and the amount of the transactions set forth in (a) and (b) of the preceding item associated with the long-futures contract involving a securities index, etc.) which is to be conducted in order to reduce the risk that could arise due to the fluctuation of prices related to the transaction contract balance of the long-futures contract involving a securities index, etc. (or transactions equivalent thereto that the person conducts in connection with the transactions set forth in Article 2, paragraph (21), item (iii) of the Act associated with a Securities Index; but not the transactions set forth in item (iii));
二十四 有価証券に係る法第二条第二十一項第三号に掲げる取引(以下この条において「有価証券オプション取引」という。)に係る権利行使価格(当事者の一方の意思表示により成立する取引に係る価格をいう。)及び対価の額と有価証券の売買価格の関係を利用して行う取引であって、有価証券オプション取引を新規に行うことにより有価証券を買い付ける権利を取得し、又は売り付ける権利を付与するとともに、当該権利を行使し、又は行使された場合に取得することとなる当該有価証券の数量の範囲内で当該有価証券と同一の銘柄の有価証券の売付けを行う取引(第三号に掲げる取引を除く。)
(xxiv) a transaction that will be conducted using the relationship between the Exercise Price (meaning the price for the transaction which is established by a unilateral manifestation of intention by one of the parties) and the amount receivable for a transaction as set forth in Article 2, paragraph (21), item (iii) of the Act involving a Security (hereinafter referred to as a "Security Option Contract" in this Article) and the trading price of Securities, in which a person both acquires the right to purchase Securities by forming a new Security Option Contract and sells Securities of the same issue as, and within the scope of the volume of, the Securities that the person will come to acquire if the person exercises that right, or in which a person both grants another person the right to sell Securities by forming a new Security Option Contract and sells Securities of the same issue as, and within the scope of the volume of, the Securities that the person will come to acquire if that right is exercised (but not a transaction as set forth in item (iii));
二十五 有価証券オプション取引により有価証券を買い付ける権利を取得し、又は売り付ける権利を付与している場合において、当該有価証券オプション取引に係る対価の額の変動により発生し得る危険を減少させるため当該権利を行使し、又は行使された場合に買い付けることとなる当該有価証券の数量(有価証券オプション取引により当該有価証券を売り付ける権利を取得し、又は買い付ける権利を付与している場合に当該権利を行使し、又は行使されることにより売り付けることとなる有価証券の数量及び当該有価証券と同一の銘柄に係る前号に掲げる取引の数量を控除した数量に限る。)の範囲内で当該有価証券と同一の銘柄の有価証券の売付けを行う取引(第三号に掲げる取引を除く。)
(xxv) a transaction in which the relevant person, having acquired a right to purchase Securities based on a Security Option Contract, sells Securities of the same issue as, and within the scope of the volume of, the Securities that the person will come to purchase if that person exercises that right, in order to reduce the potential risk arising from fluctuations in the amount receivable associated with the Security Option Contract (but not a transaction as set forth in item (iii)) or a transaction in which the relevant person, having granted another person the right to sell Securities through a Security Option Contract, sells Securities of the same issue as, and within the scope of the volume of, the Securities that the person will come to purchase if that right is exercised, in order to reduce the potential risk arising from fluctuations in the amount receivable associated with that Security Option Contract (but not a transaction as set forth in item (iii)) (if the person has acquired the right to sell those Securities based on a Security Option Contract, the volume in question is limited to what remains after the volume of the Securities that the person will come to sell if that person exercises that right and the volume of the transaction as set forth in the preceding item involving Securities of the same issue as the relevant Securities are deducted; and if the person has granted another person the right to purchase those Securities based on a Security Option Contract, the volume in question is limited to what remains after the volume of the Securities that the person will come to sell if that right is exercised and the volume of the transaction as set forth in the preceding item involving Securities of the same issue as the relevant Securities are deducted);
二十六 投資信託受益証券等の約定価額の水準と当該投資信託受益証券等と同一の金利、通貨の価格、金融商品市場における相場その他の指標(以下この条において「指標」という。)に基づき運用することとされた他の投資信託受益証券等の約定価額の水準の関係を利用して行う取引であって、当該投資信託受益証券等の買付けを新規に行うとともに、その買付価額の範囲内で当該他の投資信託受益証券等の売付けを行う取引
(xxvi) a transaction to be conducted using the relationship between the level of the agreed value of Beneficiary Securities of an Investment Trust, etc. and the level of the agreed value of other Beneficiary Securities of an Investment Trust, etc. to be invested based on the same money rate, value of currency, quotation on a Financial Instruments Exchange Market, or any other indicator (hereinafter collectively referred to as the "Indicator" in this Article) as the Beneficiary Securities of an Investment Trust, etc., in which the person in question both makes a new purchase of the Beneficiary Securities of an Investment Trust, etc., and also sells the other Beneficiary Securities of an Investment Trust, etc. within the scope of the purchase value thereof;
二十七 投資信託受益証券等の約定価額の水準と指標の水準の関係を利用して行う取引であって、当該投資信託受益証券等の買付けを新規に行うとともに、その買付価額の範囲内で指標連動有価証券(その価額の合計額の変動が当該投資信託受益証券等に係る指標の変動に近似するように選定した有価証券をいう。以下この号から第三十二号までにおいて同じ。)の売付け(当該指標連動有価証券が銘柄の異なる複数の有価証券である場合は、当該銘柄の異なる複数の有価証券の売付けに限る。次号、第三十一号及び第三十二号において同じ。)を行う取引(第三号に掲げる取引を除く。)
(xxvii) a transaction to be conducted using the relationship between the level of the agreed value and the level of the Indicator of Beneficiary Securities of an Investment Trust, etc. in which the person in question makes a new purchase of the Beneficiary Securities of an Investment Trust, etc. and also sells indicator-linked securities (meaning Securities selected so that the fluctuations in the total value of the Securities approximate the fluctuations of the Indicator associated with the Beneficiary Securities of an Investment Trust, etc.; hereinafter the same applies in this item through item (xxxii)) within scope of the purchase value (but only the sales of the multiple Securities of different issues, if the indicator-linked securities are multiple Securities of different issues; the same applies in the following item and item (xxxi) and item (xxxii)) (other than the transactions set forth in item (iii));
二十八 投資信託受益証券等の買付残高に係る価格の変動により発生し得る危険を減少させるため、その買付価額の範囲内で指標連動有価証券の売付けを行う取引(第三号に掲げる取引を除く。)
(xxviii) a transaction in which the relevant person sells indicator-linked securities within the scope of the purchase value thereof in order to reduce the potential risk arising from fluctuations in the price of the purchase balance of Beneficiary Securities of an Investment Trust, etc. (other than a transaction set forth in item (iii));
二十九 有価証券指標先物取引に係る約定数値の水準又は指標の水準と投資信託受益証券等の約定価額の水準の関係を利用して行う次に掲げる取引
(xxix) a transaction as follows, conducted using the relationship between the level of the Agreed Figure or level of the Indicator associated with the futures contract involving a securities index and the level of the agreed value of Beneficiary Securities of an Investment Trust, etc.:
イ 買方有価証券指標先物取引(有価証券指標先物取引のうち現実数値が約定数値を上回った場合に金銭を受領する立場の当事者となるものであって、当該投資信託受益証券等に係る指標によるものをいう。以下この条において同じ。)又は指標連動有価証券の買付け(当該指標連動有価証券が銘柄の異なる複数の有価証券である場合は、当該銘柄の異なる複数の有価証券の買付けに限る。)を新規に行うとともに、その取引契約残高又は買付価額の合計額の範囲内で当該投資信託受益証券等の売付けを行う取引
(a) a transaction in which the person in question makes a new long-futures contract involving a securities index (meaning a futures contract involving a securities index in which the person in question would be the party to receive the money if the Actual Figure exceeds the Agreed Figure, and which is made in accordance with the Indicator of the Beneficiary Securities of an Investment Trust, etc.; hereinafter the same applies in this Article) or a new purchase of indicator-linked securities (but only the purchase of the multiple Securities of different issues, if the indicator-linked securities are multiple Securities of different issues) and also sells the relevant Beneficiary Securities of an Investment Trust, etc. within the scope of the transaction contract balance or the total amount of purchase value; or
ロ 買方有価証券指標先物取引の取引契約残高と対当する売方有価証券指標先物取引(有価証券指標先物取引のうち現実数値が約定数値を上回った場合に金銭を支払う立場の当事者となるものであって、当該投資信託受益証券等に係る指標によるものをいう。次号において同じ。)の取引契約残高の全部又は一部を金融商品取引所の定める方法により決済するとともに、当該決済する金額の範囲内で当該投資信託受益証券等の売付けを行う取引
(b) a transaction in which the relevant person, using a method specified by a Financial Instruments Exchange, settles all or part of the transaction contract balance of a short-futures contract involving a securities index, etc. (meaning a futures contract involving a securities index under which the person will be the party to pay the money if the Actual Figure exceeds the Agreed Figure, which are made based on the Indicator of Beneficiary Securities of an Investment Trust, etc.; the same applies in the following item) that corresponds to the transaction contract balance of the long-futures contract involving a securities index, etc. and also sells the relevant Beneficiary Securities of an Investment Trust, etc. within the scope of the amount so settled;
三十 買方有価証券指標先物取引の取引契約残高(これと対当する売方有価証券指標先物取引の取引契約残高並びに当該買方有価証券指標先物取引と同一の買方有価証券指標先物取引に係る第二十二号イ及びロの取引の額を控除した取引契約残高に限る。)又は指標連動有価証券の買付残高に係る価格の変動により発生し得る危険を減少させるため、その取引契約残高又は買付価額の合計額の範囲内で投資信託受益証券等の売付けを行う取引
(xxx) a transaction in which the person in question sells Beneficiary Securities of an Investment Trust, etc. within the scope of the transaction contract balance of a long-futures contract involving a securities index (but only the transaction contract balance remaining after the deduction of the transaction contract balance of short-futures contract involving a securities index corresponding thereto and the amount of the transactions set forth in item (xxii), (a) and (b) associated with the same long-futures contract involving a securities index as the long-futures contract involving a securities index in question) or the total amount of purchase value of the indicator-linked securities which are conducted in order to reduce any potential risks arising from fluctuations of prices associated with the transaction contract balance of the long-futures contract involving a securities index or the purchase balance of the indicator-linked securities;
三十一 投資信託受益証券等の価格の水準と指標の水準の関係を利用して行う取引であって、投資信託受益証券等に係る法第二条第二十一項第三号に掲げる取引(次号において「投資信託受益証券等オプション取引」という。)を新規に行うことにより投資信託受益証券等を買い付ける権利を取得し、又は売り付ける権利を付与するとともに、当該権利を行使し、又は行使された場合に取得することとなる投資信託受益証券等の価額(当該投資信託受益証券等と同一の銘柄に係る第二十四号に掲げる取引の額を控除した価額に限る。)の範囲内で指標連動有価証券の売付けを行う取引(第三号に掲げる取引を除く。)
(xxxi) a transaction that will be conducted using the relationship between the price level and the indicator level for Beneficiary Securities of an Investment Trust, etc., in which a person both acquires the right to purchase Beneficiary Securities of an Investment Trust, etc. by forming a new transaction as set forth in Article 2, paragraph (21), item (iii) of the Act in connection with the Beneficiary Securities of an Investment Trust, etc. (referred to as "Option Contract for Beneficiary Securities of an Investment Trust, etc." in the following item) and sells indicator-linked securities within the scope of the amount of Beneficiary Securities of an Investment Trust, etc. that the person will acquire if the person exercises that right (other than a transaction as set forth in item (iii) or in which a person both grants another person the right to sell Beneficiary Securities of an Investment Trust, etc. by forming a new Option Contract for Beneficiary Securities of an Investment Trust, etc. and sells indicator-linked securities within the scope of the amount of Beneficiary Securities of an Investment Trust, etc. that the person will acquire if that right is exercised (such an amount is limited to that remaining after the amount of a transaction as set forth in item (xxiv) associated with Securities of the same issue as the Beneficiary Securities of an Investment Trust, etc. is deducted));
三十二 投資信託受益証券等オプション取引により投資信託受益証券等を買い付ける権利を取得し、又は売り付ける権利を付与している場合において、当該権利を行使し、又は行使された場合に買い付けることとなる投資信託受益証券等の価格の変動により発生し得る危険を減少させるため、当該投資信託受益証券等の価額(投資信託受益証券等オプション取引により当該投資信託受益証券等を売り付ける権利を取得し、又は買い付ける権利を付与している場合に当該権利を行使し、又は行使されることにより売り付けることとなる投資信託受益証券等の価額、当該投資信託受益証券等と同一の銘柄に係る第二十四号及び第二十五号に掲げる取引の額並びに指標連動有価証券に係る前号に掲げる取引の額を控除した価額に限る。)の範囲内で指標連動有価証券の売付けを行う取引(第三号に掲げる取引を除く。)
(xxxii) a transaction in which the relevant person, having acquired a right to purchase Securities based on an Option Contract for Beneficiary Securities of an Investment Trust, etc., sells indicator-linked securities within the scope of the value of the Beneficiary Securities of an Investment Trust, etc. that the person will come to purchase if that person exercises that right, in order to reduce the potential risk arising from fluctuations in the price of the Beneficiary Securities of an Investment Trust, etc. (but not a transaction as set forth in item (iii)) or a transaction in which the relevant person, having granted another person the right to sell Securities based on an Option Contract for Beneficiary Securities of an Investment Trust, etc., sells indicator-linked securities within the scope of the value of the Beneficiary Securities of an Investment Trust, etc. that the person will come to purchase if that right is exercised, in order to reduce the potential risk arising from fluctuations in the price of the Beneficiary Securities of an Investment Trust, etc. (but not a transaction as set forth in item (iii)) (if the person has acquired the right to sell the Beneficiary Securities of an Investment Trust, etc. based on an Option Contract for Beneficiary Securities of an Investment Trust, etc., the value in question is limited to what remains after the amount of Beneficiary Securities of an Investment Trust, etc. that the person will come to sell if that person exercises that right, the amount of the transaction set forth in item (xxiv) and item (xxv) associated with Securities of the same issue as the Beneficiary Securities of an Investment Trust, etc., and the amount of the transaction set forth in the preceding item associated with the indicator-linked securities are deducted; and if the person has granted another person the right to purchase the Beneficiary Securities of an Investment Trust, etc. based on an Option Contract for Beneficiary Securities of an Investment Trust, etc., the value in question is limited to what remains after the amount of Beneficiary Securities of an Investment Trust, etc. that the person will come to sell if that righty is exercised, the amount of the transaction set forth in item (xxiv) and item (xxv) associated with Securities of the same issue as the Beneficiary Securities of an Investment Trust, etc., and the amount of the transaction set forth in the preceding item associated with the indicator-linked securities are deducted);
三十三 取引所金融商品市場における投資信託受益証券等の価格を当該投資信託受益証券等(第十二号ヘに掲げる有価証券にあっては同号ヘの受託有価証券、同号トに掲げる有価証券にあっては同号トの表示する権利に係る有価証券)に係る指標に平準化するための当該投資信託受益証券等の売付けを行う取引
(xxxiii) a transaction in which the relevant person sells Beneficiary Securities of an Investment Trust, etc. on a Financial Instruments Exchange Market in order to equalize the prices of the Beneficiary Securities of an Investment Trust, etc. with the level of the Indicator associated with the Beneficiary Securities of an Investment Trust, etc. (or with the Entrusted Securities referred to in item (xii), (f), as regards the Securities set forth in item (xii), (f); or with the Securities associated with the indicated right referred to in (g) of that item, as regards the Securities set forth in (g) of that item);
三十四 合併、株式交換又は株式移転(以下この号において「合併等」という。)を決定した会社の発行した株券(以下この号において「合併等会社株券」という。)の約定価額の水準と当該会社と合併等をする会社の発行する株券(以下この号において「被合併等会社株券」という。)の合併等の比率に基づく約定価額の水準の関係を利用して行う取引であって、合併等会社株券の買付けを新規に行うとともに、その買付価額の範囲内で被合併等会社株券の売付けを行う取引(合併等の期日及び合併等の比率が決定されており、その事実が公表されている場合に限る。)
(xxxiv) a transaction to be conducted using the relationship between the level of the agreed value of Share Certificates issued by a company that has decided to implement a merger, share exchange, or share transfer (hereinafter collectively referred to as a "Merger, etc." in this item) (hereinafter referred to as "Share Certificates of a Merging, etc. Company" in this item) and the level of the agreed value of shares issued by another company implementing a Merger, etc. with the relevant company (hereinafter referred to as "Share Certificates of a Merged, etc. Company" in this item) based on the ratio of the Merger, etc., in which the person will both make a new purchase of Share Certificates in the Merging, etc. Company and also sell Share Certificates in the Merged, etc. Company within the scope of the purchase value (but only if the date of Merger, etc. and the ratio of Merger, etc. have been decided, and that fact has been made public);
三十五 取引所金融商品市場を開設する金融商品取引所が定める売買単位に満たない数の有価証券につき空売りを行う取引
(xxxv) a transaction in which a person conducts Short Selling of Securities of a number that is less than the trading unit specified by the Financial Instruments Exchange that operates the relevant Financial Instruments Exchange Market; and
三十六 取引所金融商品市場における有価証券の価格を他の金融商品取引所が開設する取引所金融商品市場又は法第三十条第一項の認可を受けた金融商品取引業者が開設する私設取引システム(令第二十六条の二の二第七項に規定する私設取引システムをいう。以下この章において同じ。)における当該有価証券の価格と平準化するために当該有価証券の売付けを行う取引
(xxxvi) a transaction in which a person sells Securities in order to equalize the price of Securities in a Financial Instruments Exchange Market with the price of Securities in a Financial Instruments Exchange Market operated by another Financial Instruments Exchange or in a Proprietary Trading System (meaning a Proprietary Trading System as prescribed in Article 26-2-2, paragraph (7) of the Order; hereinafter the same applies in this Chapter) operated by a Financial Instruments Business Operator that has obtained the authorization referred to in Article 30, paragraph (1) of the Act.