One-Stop Exchange Eyed for FY 2020 after JPX-TOCOM Merger
Tokyo, March 28 (Jiji Press)--Japan Exchange Group Inc. <8697>, or JPX, and Tokyo Commodity Exchange Inc., or TOCOM, said Thursday that they will merge their operations in October, paving the way for the establishment of a one-stop trading platform by fiscal 2020.
"We hope to realize it in the first half of fiscal 2020," JPX Group Chief Executive Officer Akira Kiyota told a press conference, referring to the one-stop exchange.
The envisioned one-stop exchange for stocks and commodity futures is aimed at enhancing the convenience of investors and reinvigorating market activity.
"We agreed to JPX's offer to develop commodity futures markets together," TOCOM President and CEO Takamichi Hamada said at the press conference.
During Prime Minister Shinzo Abe's first term in 2007, his administration mapped out a vision for a one-stop exchange. However, a tug-of-war among related government bodies, including the industry ministry and the Financial Services Agency, has prevented work on the vision from progressing.
[Copyright The Jiji Press, Ltd.]