Japanese financial instruments exchange holding company and its corporate group
Japan Exchange Group, Inc.
|
Facade of the JPX head office (Tokyo Stock Exchange building)
|
Native name
| 株式?社日本取引所グル?プ
|
---|
| Kabushiki gaisha Nippon Torihikijo Gur?pu
|
---|
Formerly
| Osaka Securities Exchange
Co., Ltd. (1949?2013)
|
---|
Company type
| Public
KK
|
---|
| TYO
:
8697
|
---|
Industry
| Financial services
|
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Predecessors
| |
---|
Founded
| - De jure
on 1 April 1949
; 75 years ago
(
1949-04-01
)
as Osaka Securities Exchange Co., Ltd.
- De facto
on 1 April 2013
; 11 years ago
(
2013-04-01
)
as Japan Exchange Group, Inc.
|
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Headquarters
| |
---|
Area served
| Japan
|
---|
Key people
| Akira Kiyota,
President
&
CEO
|
---|
Services
| |
---|
Number of employees
| 1,223 (2022)
|
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Subsidiaries
| |
---|
Website
| jpx.co.jp/
|
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Footnotes / references
|
Japan Exchange Group, Inc.
(
株式?社日本取引所グル?プ
,
Kabushiki-gaisha
Nippon Torihikijo Gur?pu
,
Corporate Number
: 9120001098575)
,
[2]
abbreviated as
JPX
or
Nippon Torihikijo
, is a Japanese "
financial instruments
exchange
holding company
"
[3]
subject to the regulations of the
Financial Instruments and Exchange Act
enforced by the
Financial Services Agency
.
The exchange group was formed by the merger of
Tokyo Stock Exchange
(TSE) and
Osaka Stock Exchange
(OSE) on January 1, 2013. As a result of this merger and market reorganization, TSE became the sole
securities exchange
of JPX and OSE became the largest
derivatives exchange
of JPX.
JPX owns three licensed "financial instruments exchange" corporations:
Tokyo Stock Exchange, Inc.
,
[4]
Osaka Exchange, Inc.
,
[5]
and
Tokyo Commodity Exchange, Inc.
(TOCOM).
[6]
It also has an IT services and research arm, JPX Market Innovation & Research, Inc. (JPXI),
[7]
a self-regulatory body, Japan Exchange Regulation (JPX-R),
[8]
and a
central clearing counterparty
,
Japan Securities Clearing Corporation
(JSSC).
[9]
As of June 2021, JPX is the world's fifth-largest stock exchange operator, behind
NYSE
,
NASDAQ
,
SSE
, and
HKSE
.
[10]
History
[
edit
]
The roots of JPX trace back to November 22, 2011, when TSE and OSE decided to merge into one, as a solution to slowing market conditions in Japan.
[11]
The merger was subsequently approved on July 5, 2012 when the
Japan Fair Trade Commission
approved the TSE-OSE merger, paving the way for the formation of JPX.
[12]
On January 1, 2013, JPX was launched.
[13]
The remainder of the merger was realized through a series of changes:
- On January 4, 2013, JPX was listed at TSE's First Section (8697). JPX also assumed OSE's own
ticker symbol
(also 8697).
[13]
- On July 16, 2013, The cash equity market of OSE was transferred and integrated into TSE.
[13]
The self-regulatory operations of OSE were integrated into Tokyo Stock Exchange Regulation.
[13]
The
derivatives
clearing
operations of OSE were integrated into Japan Securities Clearing Corporation.
[13]
- On October 1, 2013, Japan Securities Clearing Corporation merged with Japan Government Bond Clearing Corporation.
[13]
- On March 24, 2014, Osaka Securities Exchange Co., Ltd was renamed Osaka Exchange, Inc. The TSE derivatives market was transferred and integrated into OSE.
[13]
- On April 1, 2014, Tokyo Stock Exchange Regulation was renamed Japan Exchange Regulation.
[13]
- On July 11, 2014 JPX signed a comprehensive Memorandum of Understanding (MOU) with
Bank of China Limited
.
[13]
- On November 1, 2014, TSE and OSE opened a joint representative office in
Hong Kong
.
[13]
In December 2014, JPX concluded a Letter of Interest (LOI) with
Singapore Exchange
.
[13]
In the same month, JPX signed a
joint venture
agreement with
Daiwa Institute of Research
Ltd., the research arm of
Daiwa Securities Group
, and
Myanma Economic Bank
to establish
Yangon Stock Exchange
.
[13]
In May 2015, TSE and OSE opened a joint branch office in
Singapore
.
[13]
On October 1, 2019, JPX acquired Tokyo Commodity Exchange, Inc. (TOCOM), to expand its derivatives trading business in the
commodity market
. In turn, TOCOM became a wholly owned subsidiary of the Group.
[13]
On November 25, 2021, JPX launched a new subsidiary, JPX Market Innovation & Research, Inc. (JPXI), which would provide financial market data and index services and system-related services to
financial data vendors
.
[14]
On April 1, 2022, in order to strengthen business activities in the
Kansai region
, JPX established Osaka Head Office and Osaka
IPO
Center in the Osaka Securities Exchange Building at
Kitahama
, Osaka.
[15]
[16]
The Osaka site would take over the entire operations of JPX in the event of a wide-ranging disaster in the
National Capital Region
.
[16]
TSE and OSE transferred and integrated their data and digital businesses into JPXI.
[17]
TSE also merged its IT services arm, Tosho System Service Co., Ltd. (TSS), into JPXI, which would inherit the rights and obligations of all business carried out by TSS, such as system development, operations, consulting, and telecommunication services.
[17]
In July 2023, JPX launched a new
stock market index
, the
JPX Prime 150 Index
[
ja
]
, to track the performance of the Japanese
blue chips
.
[18]
Subsequently, on March 18, 2024,
Nomura Asset Management
listed an
exchange-traded fund
(ETF) for the index on TSE,
[19]
the same day that index futures contract was launched on OSE.
[20]
Senior leadership
[
edit
]
The JPX has been led by a President & CEO (combined in one role) since its formation in 2013.
List of Presidents and CEOs
[
edit
]
- Atsushi Saito (2013?2015)
[21]
- Akira Kiyota (2015?2023)
[22]
- Hiromi Yamaji (since April 2023)
[22]
Subsidiaries
[
edit
]
JPX is a
corporate group
formed by the holding company, Japan Exchange Group, Inc., and its subsidiaries:
[3]
See also
[
edit
]
Notes
[
edit
]
Sources
[
edit
]
Further reading
[
edit
]
External links
[
edit
]
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Members
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Associates
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Affiliates
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Correspondents
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