Tokyo Stock Exchange starts talks with NYSE, other bourses, about forming a worldwide equities market.
Published:
9 June 2000 y., Friday
The Tokyo Stock Exchange said on Wednesday it had started discussions with the New York Stock Exchange, Euronext and other exchanges about forming a global equities market. THE MOVE underlines the Tokyo Stock Exchange (or TSE’s) determination not to be left out of a headlong rush towards 24-hour, round-the-world trading inspired by technological developments and global capital markets.
The talks involve exchanges in Australia, Hong Kong, Toronto, Mexico and Sao Paulo, said the TSE, whose position as Japan’s preeminent stock exchange could in time be challenged by the June 23 launch of Nasdaq Japan, a sister version of the U.S. Nasdaq market and part of Nasdaq’s own global ambitions.
The market would offer open-all-hours trade in big name, international stocks to global investors by linking exchanges in three time zones — Asia-Pacific, Europe-Middle East-Africa and North and South America.
It would also help increase market liquidity while improving trade efficiency by reducing costs for investors, officials said. “Nothing concrete has been decided,” a TSE official said, adding the exchanges plan to hold a first meeting on a working basis soon.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
New rules for the EU's single market will make it easier to live and do business anywhere in Europe.
more »
MEPs were disappointed that the Commission's EU budget review document had not sought the radical revision that the EU needs, they told Budgets Commissioner Janusz Lewandowski in a Policy Challenges Committee debate on Thursday.
more »
On 25 October, the Commission adopted the decision to financially support the 2011 electoral process in the Central African Republic.
more »
New EU framework for crisis management in the financial sector for managing problems before they spiral out of control.
more »
The financial crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, say two non-legislative resolutions voted by Parliament on Wednesday.
more »
The European Commission has approved an application from Germany for assistance from the European Globalisation adjustment Fund (EGF).
more »
Global and EU- level taxes on financial sector would help to fund international challenges such as development or climate change and fix the fallout from the global economic crisis.
more »
The European Investment Bank and African Development Bank today agreed to provide EUR 45m to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago.
more »
MEPs want future EU budgets to accommodate new policy priorities as well as negotiations on new sources of financing.
more »
The European Parliament's Budgets Committee on Monday backed EU funding for 3,731 workers in Portugal, the Netherlands, Spain and Denmark who were made redundant due to the closure of their companies.
more »