JASDAQ and NASDAQ Japan to Merge

The Japan Securities Dealers Association (JSDA); the Osaka Securities Exchange (OSE); and Nasdaq Stock Market Inc. (NASDAQ) is reported to be in talks aimed at merging the JASDAQ OTC market and with the Nasdaq Japan market at the OSE. The proposed integration, which would be completed by late next year, excludes one venture capital market in Japan (MOTHERS at the Tokyo Stock Exchange) but would still create a single platform for around a thousand listed companies capitalised at Yen 10 trillion, making it the second biggest venture capital market in the world. Broker-dealers active on both markets have welcomed the idea of the merge, as enhancing liquidity and obviating the need to maintain multiple interfaces.