Institutional Investor (October Issue)
“Atsushi Saito has reinvigorated the Japanese exchange world with a merger and a technology overhaul. Now comes the hard part: winning back market share in Asia.” Following the merger of the Tokyo and Osaka exchanges, the Japan Exchange Group ranks third behind only the NYSE Euronext and Nasdaq OMX. “JPX now controls more than 90 percent of all equity-and derivatives-trading volume in Japan.” Yet, “despite its lead in listed companies, JPX trails in foreign listings. It’s also weak in terms of options, futures contracts and exchange-traded funds (ETFs), compared with the big U.S. exchanges”
Tags: Asia, Atsushi Saito, Derivatives, Equities, ETFs, Futures, IT, Japan, JPX, Market share, Merger, Nasdaq OMX, NYSE Euronext, Options, Osaka, Tokyo, Trading volume, U.S.
The Economist (October 13)
“The decision made on October 10th by Britain’s BAE Systems, the world’s third-biggest defence firm, and EADS, the Franco-German owner of Airbus, to call off their proposed €38 billion ($50 billion) merger is a bitter blow both to the two companies and to hopes for the emergence of a more integrated European defence and aerospace industry.” Ultimately, it was Angela Merkel who blocked the deal and this was unfortunate. “Germany was wrong to stand in the way of a more integrated European defence and aerospace industry.”
Bloomberg (August 25)
“The Tokyo Stock Exchange Group Inc.’s purchase of its Osaka rival is off to a rocky start.” Shares in the “Osaka exchange plunged by a record 16 percent yesterday amid speculation the merger will hurt profit.” Many of the concerns center on trading disruptions at the larger exchange, for which executives had their pay docked following a reprimand by the Financial Services Agency.
Tags: FSA, Merger, OSE, Share price, Trading glitches, TSE
