A New Hope: Wide-Moat Japan Exchange Group and Tokyo Commodity Exchange Open to Merger Discussion
A recent media report stated that Japan Exchange Group, or JPX, and Tokyo Commodity Exchange, or TOCOM, are in discussions on a possible merger. The merger has been discussed since a change in legislation in 2012, and as we highlighted in a note in 2017, "Japan Exchanges Visit: Liberalization of Energy Markets an Opportunity for Derivatives Market," we believe the consolidation of the two exchanges makes strategic sense. The main hurdle, as highlighted at the time, was more political, given the ...Japan Exchange Group is a holding company engaged in the provision of financial instrument exchange services. Through its four major subsidiaries, Tokyo Stock Exchange, Osaka Exchange, Japan Exchange Regulation and Japan Securities Clearing, Co. provides market infrastructure for financial instruments including financial instrument exchange. Co. also offers traders and investors reliable venues for trading listed securities and derivative instruments, as well as clearing and settlement services through a central counterparty. Co. was established through the business combination between Tokyo Stock Exchange and Osaka Securities Exchange on Jan 1 2013.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.