, abbreviated as JPX or Nippon Torihikijo, is a Japanese " financial instruments exchange

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

" subject to the regulations of the

Financial Instruments and Exchange Act The , promulgated on June 14, 2006, is the main statute codifying securities law and regulating securities companies in Japan. The law provides for: * Registration and regulation of broker dealers and their registered representatives * Disclosure ...

enforced by the

Financial Services Agency The is a Japanese government agency and an integrated financial regulator responsible for overseeing banking, securities and exchange, and insurance sectors in order to ensure the stability of the financial system of Japan. The agency operates w ...

. JPX owns three licensed "financial instruments exchange" corporations:

Tokyo Stock Exchange, Inc. The , abbreviated as Tosho () or TSE/TYO, is a stock exchange located in Tokyo, Japan. It is the third largest stock exchange in the world by aggregate market capitalization of its listed companies, and the largest in Asia. It had 2,292 listed ...

(TSE), Osaka Exchange, Inc. (OSE), and Tokyo Commodity Exchange, Inc. (TOCOM). It was formed by the merger of TSE and OSE on January 1, 2013. As a result of this merger and market reorganization, TSE became the sole securities exchange of JPX and OSE became the largest derivatives exchange of JPX. In 2019, JPX acquired TOCOM to expand derivatives trading business in the commodity market. It also has an IT services and research arm, JPX Market Innovation & Research, Inc. (JPXI), a self-regulatory body, Japan Exchange Regulation (JPX-R), and a

clearing house Clearing house or Clearinghouse may refer to: Banking and finance * Clearing house (finance) * Automated clearing house * ACH Network, an electronic network for financial transactions in the U.S. * Bankers' clearing house * Cheque clearing * Cl ...

, Japan Securities Clearing Corporation (JSSC). As of June 2021, it is the world's fifth-largest stock exchange operator, behind

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is by far the List of stock exchanges, world's largest s ...

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

, SSE, and HKSE.

Timeline

* November 22, 2011 - TSE and OSE decided to merge into one, as a solution to slowing market conditions in Japan. * July 5, 2012 - The Japan Fair Trade Commission approved the TSE-OSE merger. * January 1, 2013 - JPX was launched. * January 4, 2013 - JPX was listed at TSE's First Section (8697). JPX also assumed OSE's own ticker symbol (also 8697). * July 16, 2013 - The cash equity market of OSE was transferred and integrated into TSE. The self-regulatory operations of OSE were integrated into Tokyo Stock Exchange Regulation. The

derivatives The derivative of a function is the rate of change of the function's output relative to its input value. Derivative may also refer to: In mathematics and economics * Brzozowski derivative in the theory of formal languages * Formal derivative, an ...

clearing operations of OSE were integrated into Japan Securities Clearing Corporation. * October 1, 2013 - Japan Securities Clearing Corporation merged with Japan Government Bond Clearing Corporation. * March 24, 2014 - Osaka Securities Exchange Co., Ltd was renamed Osaka Exchange, Inc. The TSE derivatives market was transferred and integrated into OSE. * April 1, 2014 - Tokyo Stock Exchange Regulation was renamed Japan Exchange Regulation. * July 11, 2014 - JPX signed a comprehensive Memorandum of Understanding (MOU) with

Bank of China Limited The Bank of China (BOC; ) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world. The Bank of China was founded in 1912 by the Republican government as China's central bank, repl ...

. * November 1, 2014 - TSE and OSE opened a joint representative office in

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

. * December 4, 2014 - JPX concluded a Letter of Interest (LOI) with

Singapore Exchange The Singapore Exchange Limited (SGX) is a Singaporean investment holding company that provides different services related to securities and derivatives trading and others. SGX is also a member of the World Federation of Exchanges and the Asian ...

. * December 23, 2014 - JPX signed a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

agreement with Daiwa Institute of Research Ltd., the research arm of Daiwa Securities Group, and

Myanma Economic Bank Myanma Economic Bank ( my, မြန်မာ့စီးပွားရေးဘဏ်; abbreviated MEB) is a commercial public bank in Myanmar (Burma). History Burma Economic Bank was established as subsidiary of the State Commercial Bank (SCB) ...

to establish

Yangon Stock Exchange The Yangon Stock Exchange ( my, ရန်ကုန်စတော့အိတ်ချိန်း; abbreviated YSX) opened on December 2015, at the former Central Bank of Myanmar and Myawaddy Bank headquarters in Yangon. On 23 December 2014, two ...

. * May 1, 2015 - TSE and OSE opened a joint branch office in

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

. * October 1, 2019 - JPX acquired Tokyo Commodity Exchange, Inc., which became a wholly owned subsidiary of the Group. * November 25, 2021 - JPX launched a new subsidiary, JPX Market Innovation & Research, Inc. (JPXI), which would provide financial market data and index services and system-related services to financial data vendors. * April 1, 2022 - In order to strengthen business activities in the Kansai region, JPX established Osaka Head Office and Osaka

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

Center in the Osaka Securities Exchange Building at Kitahama, Osaka. The Osaka site would take over the entire operations of JPX in the event of a wide-ranging disaster in the

National Capital Region A capital region, also called a capital district or capital territory, is a region or district surrounding a capital city. It is not always the official term for the region, but may sometimes be used as an informal synonym. Capital regions can exis ...

. TSE and OSE transferred and integrated their data and digital businesses into JPXI. TSE also merged its IT services arm, Tosho System Service, Co. Ltd. (TSS), into JPXI, which would inherit the rights and obligations of all business carried out by TSS, such as system development, operations, consulting, and telecommunication services.

Subsidiaries

JPX is a

corporate group A corporate group or group of companies is a collection of parent and subsidiary corporations that function as a single economic entity through a common source of control. These types of groups are often managed by an account manager. The concep ...

formed by the holding company, Japan Exchange Group, Inc., and its subsidiaries: * Tokyo Stock Exchange, Inc. (TSE) - operator of

Tokyo Stock Exchange The , abbreviated as Tosho () or TSE/TYO, is a stock exchange located in Tokyo, Japan. It is the third largest stock exchange in the world by aggregate market capitalization of its listed companies, and the largest in Asia. It had 2,292 listed co ...

* Osaka Exchange, Inc. (OSE) - operator of

Osaka Exchange , renamed from , is the largest derivatives exchange in Japan, in terms of amount of business handled. , the Osaka Securities Exchange had 477 listed companies with a combined market capitalization of $212 billion. The Nikkei 225 Futures, intro ...

* Tokyo Commodity Exchange, Inc. (TOCOM) - operator of

Tokyo Commodity Exchange Tokyo Commodity Exchange, also known as TOCOM, is Japan's largest and one of Asia's most prominent commodity futures exchanges. TOCOM operates electronic markets for precious metals, oil, rubber and soft commodities. It offers futures and options ...

* JPX Market Innovation & Research, Inc. (JPXI) - IT services and research arm * Japan Exchange Regulation (JPX-R) - self-regulatory body * Japan Securities Clearing Corporation (JSSC) - clearing house * Other consolidated subsidiaries

Notes

References

JPX Report 2022
Japan Exchange Group, Inc.

External links

* * * {{Authority control Japanese companies established in 2013 Financial services companies based in Tokyo Financial services companies established in 2013 Companies listed on the Osaka Exchange Companies listed on the Tokyo Stock Exchange Stock exchanges in Japan Tokyo Stock Exchange Holding companies of Japan

Timeline

Subsidiaries

See also

Notes

References

External links