OSAKA -- The Nasdaq Japan market has moved back plans to set up a foreign section on which it will list U.S. blue chips to early 2001, Goro Tatsumi, president of the Osaka Securities Exchange said Tuesday.
Nasdaq Japan, which is associated with the OSE, had originally planned to start trading U.S. blue chips in early December.
Tatsumi told reporters that behind the delay are differences between Japan and the United States over technical matters such as the method of indicating face values of stocks and trading units.
Currently, U.S. stocks can only be traded in dollars through U.S. securities firms in Japan or through Japanese brokerages that have branches in the United States.
Tatsumi said Nasdaq Japan is developing smoothly, with its liquidity surpassing that of the First Section of the Tokyo Stock Exchange.
Nasdaq Japan, a sister trading system of the U.S. Nasdaq market, began operating in June. It is located on the premises of the OSE.