JASDAQ Gets The Green Light To Open A New Exchange In Japan

Beginning December 13, 2004 JASDAQ will throw open the doors to its newest exchange, the Jasdaq Securities Exchange, Inc. The new exchange was made possible after JASDAQ, the OTC stock market for startup companies operated by the Japan Securities Dealers

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Beginning December 13, 2004 JASDAQ will throw open the doors to its newest exchange, the Jasdaq Securities Exchange, Inc.

The new exchange was made possible after JASDAQ, the OTC stock market for startup companies operated by the Japan Securities Dealers Association (JSDA), received a license from Japan’s Financial Services Agency. After conversion to the stock exchange, JASDAQ will operate as both a “market provider” and a “market operator,” and JSDA will detach its function as a “market provider” to enforce its function as a self-regulatory organization of securities industry.

Upon conversion to the stock exchange status, JASDAQ will be able to handle the following transactions that were either unavailable or restricted as an OTC market: at the market orders, when-issued transactions, off-hours-trading will be expanded, derivatives trading and dual listing.

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