/

TSE-OSE stock trading merger wins green light

Kyodo

Tokyo Stock Exchange Inc. and Osaka Securities Exchange Co. said Sunday they have given the final go-ahead for integrating stock trading operations Tuesday.

The integration date was finalized after the two bourses successfully completed a battery of tests Sunday.

The number of listed companies on the TSE will jump to more than 3,400 after the merger, making the revamped TSE the world’s third-largest by listed firms after the Mumbai and Toronto stock exchanges.

TSE chief Akira Kiyota said at a meeting after the tests that merging will benefit everyone.

“The integration will be an advantage for all market players,” he said.

In January, the two bourses merged under a new holding company, Japan Exchange Group Inc., to improve their ability to compete with overseas bourses in attracting new listings, transactions and investors.

By March 2014, derivatives trading on the two Japanese exchanges will be consolidated on the Osaka bourse.

Following the integration, 1,100 companies listed on the OSE’s first and second sections and its Jasdaq market for start-ups will be transferred to the TSE.