> For the complete documentation index, see [llms.txt](https://docs.trade.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.trade.xyz/perpetuals/markets/stocks/japan.md).

# Japan

trade\[XYZ] perpetual markets for Japan Stocks.

#### **External Coverage**

For Japan-listed equities, the Relayer derives external prices during market open trading sessions (JST, UTC+9):

* **Day Session:** 8:20 AM – 4:30 PM JST
* **Night Session:** 5:00 PM – 11:59 PM JST

#### **Internal Pricing**

Internal pricing applies outside of the market open sessions, including:

* **Afternoon Break:** 4:30 PM – 5:00 PM JST
* **Market Closed:** 11:59 PM – 8:20 AM JST
* **Weekends and** [**Exchange Holidays**](https://www.jpx.co.jp/english/corporate/about-jpx/calendar/)

#### **FX Conversion**

The relayer aggregates executable quotes for JPY-denominated instruments alongside real-time [USD/JPY](https://app.pyth.com/explore/FX.Index.USD%2FJPY) FX rates. To maintain consistency with XYZ’s linear contract structure, which is margined and settled exclusively in USDC, the system automatically converts these quotes into USD pricing. This ensures a seamless trading experience and eliminates currency friction for users.