TOKYO, Jun 28 (NNN-NHK) – A new financial exchange, which aims to be an alternative for the Tokyo Stock Exchange, opened in Japan, yesterday, becoming the first one launched in the country, in 12 years.
According to the operator, the Osaka Digital Exchange (ODX) provides trading of stocks and exchange-traded funds, from 8:20 a.m. to 4:00 p.m. on weekdays, operating one hour and 40 minutes longer than the Tokyo Stock Exchange’s trading hours.
“We would like to boost momentum for investment, in collaboration with the Tokyo Stock Exchange and others,” Kimio Mikazuki, president of Osaka Digital Exchange, said, at the opening event.
Online financial giant, SBI Holdings Inc. constitutes a 70-percent stake in ODX’s operator, Osaka Digital Exchange Co., while Sumitomo Mitsui Financial Group Inc. holds a 20-percent stake.
The remainder is equally split between Nomura Holdings Inc. and Daiwa Securities Group Inc.
The operator of the ODX said, it plans to introduce advanced technology for preventing data hacking called, blockchain, next year.
The new private exchange also aims to turn itself into an international financial centre, backed by the infrastructure of an integrated bourse for stocks and commodity futures, in the western Japanese prefectures of Hyogo and Osaka, according to the operator.– NNN-NHK
