The Osaka Securities Exchange Co., Ltd. (OSE) and International SecuritiesExchange Holdings, Inc. (ISE) have signed a Memorandum of Agreement (MOA), in which the two exchanges agreed to build a cooperative relationship as the first step towards the formation of a joint venture and the launch of a new, jointly owned trading platform that promisesto revitalise the Japanese equity options market.
“We are extremely excited about our partnership with ISE, the innovativemarket leader in the US equity options market. We believe there is a tremendous opportunity to create a world-class options trading venue in Japan, where the combination of a robust underlying equities market and increasingly sophisticated active investors is solidifying demand for exchange-listed equity options. With ISEs unparalleled expertise in building a fully-electronic options marketplace from the ground up, this initiative will help to revitalise the Japanese equity optionsmarket and to establish it as a useful investment tool for investors,” says said Michio Yoneda, president and CEO, OSE.
“We are very pleased to enter into this partnership with OSE. OSEs track record of success in the Japanese market and their well-established relationships with both their customers and local regulators will complement ISEs options market model and market making structure. With our MOA now signed, we look forward to working with our partners at OSE and the Japanese Securities Industry to launch an exciting new options trading platform. It is a privilege for ISE to join OSE in a shared commitment to redefining equity options trading in Japan,” adds Gary Katz, president and CEO, ISE.