The realization of new market initially planned by The Tokyo Stock Exchange (TSE) together with the London Stock Exchange (LSE) has been postponed.
Under the plan new market’s structure is expected to base on Alternative Investment Market (AIM) for smaller companies at LSE.
The postponement is reportedly due to the time it is taking entities involved in the process, such as the LSE and the Financial Services Authority (FSA) to come to an arrangement as to whether underwriting examination items should be included in TSE rules.
It is also taking time for the parties involved to decide details related to system maintenance. In addition, the current global financial crisis has made necessary a careful examination of the prospects for the profitability of the new market by the FSA.
L.D.