JPX’s integrated derivatives market debuts in Osaka


Japan Exchange Group Inc. (JPX), launched a new derivatives market Monday by integrating the related market at the Tokyo Stock Exchange with that of the Osaka Securities Exchange.

The launch of the new Osaka Exchange completes the merger between the TSE and the OSE under JPX, which was established in January last year.

“The integration significantly enhances market convenience by bringing a wide range of derivatives products,” JPX Chief Executive Officer Atsushi Saito said in a statement. “We will continue to work to build attractive markets for all market users.”

In 2013, combined derivatives trading volume on the TSE and the Osaka Securities Exchange hit a record high. But JPX ranked 14th in the world, up from 17th, according to the Futures Industry Association Japan.

Derivatives products listed on the TSE, including TOPIX stock index futures and long-term government bond futures, have been transferred to the J-GATE trading system of the Osaka Exchange.

The closing time for night sessions has been set at 3 a.m., later than that of the TSE and the same as the Osaka Securities Exchange.

  • Demosthenes

    With Japan’s debt spiraling out of control the way that it has been, the phrase “long-term government bond futures” might soon become an oxymoron in Japan.