Strong Derivatives Volume Underpins Solid 3Q Result for Japan Exchange Group
Wide-moat-rated Japan Exchange Group delivered a strong third-quarter result with higher volatility in global capital markets underpinning solid derivatives turnover. Turnover was materially higher for both the TOPIX and Nikkei 225 futures contracts as market participants seek risk management tools over concerns on global trades. In contrast to the second quarter when the exchange made minor reduction to its cost guidance, a higher level of revenue allowed the exchange to spend a little more dur...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.
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