• Kyodo

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Osaka Securities Exchange Co., Japan’s largest derivatives exchange, said Wednesday it has signed a deal to form a strategic partnership with Nasdaq OMX Group Inc. to trade in derivatives products and markets for startup firms.

The OSE, which operates the Hercules market for startups, hopes the tieup with the world’s largest exchange company allows it to compete with the Tokyo Stock Exchange Group Inc., operator of Japan’s largest bourse.

It is also looking to secure its position in the global stock exchange industry, which is undergoing a massive realignment through consolidation and mergers, observers said.

The deal includes cooperation on developing the OSE’s next-generation trading platform for derivatives products, which is scheduled to be launched next year.

It may also allow cross-listing of emerging companies, exchanges of staff and market information, the two companies said.

“This partnership can contribute to the development of the Japanese growth market, by leveraging NASDAQ OMX’s experience in providing services to listed companies and market participants,” OSE President Michio Yoneda said in a statement.

Nasdaq Stock Market Inc. established the Nasdaq-OMX group last February.

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