The main stock markets in Japan and South Korea should strengthen ties to compete better globally, the president of the Tokyo Stock Exchange Inc. said Tuesday.
"In enhancing the efficiencies of the two markets, the financial industry will further develop," Atsushi Saito, 67, said at a seminar for executives in Seoul. "The size of the pie shared by us will get bigger."
The TSE aims to double the market value of its listed companies and products to ¥1 quadrillion ($9.4 trillion) in the next three years, helped by increases in exchange-traded funds and derivatives products. The bourse has formed alliances with NYSE Group Inc. and London Stock Exchange PLC and owns a stake in Singapore Exchange Ltd.
An exchange-traded fund that tracks South Korea's Kospi 200 stock index debuted on the Tokyo bourse Nov. 19.