OSAKA (Kyodo) Osaka Securities Exchange Co. plans to create a new Jasdaq Securities Exchange through alliances with the Korea Stock Exchange and China's Shenzhen Stock Exchange, sources said Friday.
Under the alliances, the Chinese and South Korean bourses and Jasdaq will simplify their listing procedures to encourage their domestic companies to list on the other overseas markets. Jasdaq is to be established Oct. 12 by integrating the Osaka bourse's Hercules and Jasdaq markets for startup companies, the sources said.
The three bourses are also expected to strengthen cooperation to exchange personnel and share information, they added.
Since the Jasdaq bourse already has cooperative relations with the South Korean and Chinese bourses, the Osaka bourse decided to strengthen such ties with the new Jasdaq.