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.jpg) Facade of the JPX head office (Tokyo Stock Exchange building) | |
Native name | 株式会社日本取引所グループ |
|---|---|
Romanized name | Kabushiki gaisha Nippon Torihikijo Gurūpu |
| Formerly | Osaka Securities Exchange Co., Ltd. (1949–2013) |
| Company type | PublicKK |
| TYO:8697 | |
| Industry | Financial markets |
| Predecessors |
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| Founded | |
| Headquarters | |
Area served | Japan |
Key people | Hiromi Yamaji,President &CEO (2023-) |
| Services | |
Number of employees | 1,223 (2022) |
| Subsidiaries | |
| Website | jpx.co.jp/ |
| Footnotes / references [1] | |
Japan Exchange Group, Inc. (株式会社日本取引所グループ,Kabushiki-gaisha Nippon Torihikijo Gurūpu;Corporate Number: 9120001098575),[2] abbreviated asJPX orNippon Torihikijo, is a Japanesefinancial services company headquartered inTokyo andOsaka. It is a "financial instrumentsexchangeholding company"[3] subject to the regulations of theFinancial Instruments and Exchange Act enforced by theFinancial Services Agency of Japan. It is also monitored by a separate self-regulatory body called Japan Exchange Regulation (JPX-R),[4][5] dedicated to ensuring neutral and effective self-regulation operations defined under the Financial Instruments and Exchange Act.[5][6]
The exchange group was formed by the merger ofTokyo Stock Exchange Group, Inc. [ja] and Osaka Securities Exchange Co., Ltd. on January 1, 2013. As a result of this merger and market reorganization, theTokyo Stock Exchange (TSE) became the solesecurities exchange of JPX and theOsaka Exchange (OSE) became the largestderivatives exchange of JPX.
JPX owns three licensed "financial instruments exchange" corporations:Tokyo Stock Exchange, Inc.,[7]Osaka Exchange, Inc.,[8] andTokyo Commodity Exchange, Inc. (TOCOM).[9] It also has an IT services and research arm,JPX Market Innovation & Research, Inc. (JPXI),[10] and acentral clearing counterparty,Japan Securities Clearing Corporation (JSCC).[11]
As of July 2024, JPX is the world's fifth-largest stock exchange operator, behindNYSE,NASDAQ,SSE, andEuronext, exceeding $5.8 trillion in July 2024.[12]
The roots of JPX trace back to November 22, 2011, whenTSE andOSE decided to merge into one, as a solution to slowing market conditions in Japan.[13] The merger was subsequently approved on July 5, 2012, when theJapan Fair Trade Commission approved the TSE-OSE merger, paving the way for the formation of JPX.[14] On January 1, 2013, JPX was officially launched.[15] The remainder of the merger was realized through a series of changes:
In December 2014, JPX concluded a Letter of Interest (LOI) withSingapore Exchange.[15] In the same month, JPX signed ajoint venture agreement withDaiwa Institute of Research Ltd., the research arm ofDaiwa Securities Group, andMyanma Economic Bank to establishYangon Stock Exchange.[15]
In May 2015, TSE and OSE opened a joint branch office inSingapore.[15]
On October 1, 2019, JPX acquiredTokyo Commodity Exchange, Inc. (TOCOM), to expand its derivatives trading business in thecommodity market. In turn, TOCOM became a wholly owned subsidiary of the Group.[15]
On November 25, 2021, JPX launched a new subsidiary, JPX Market Innovation & Research, Inc. (JPXI), which would provide financialmarket data andprice index services and system-related services tofinancial data vendors.[16]
On April 1, 2022, in order to strengthen business activities in theKansai region, JPX established Osaka Head Office and OsakaIPO Center in the Osaka Securities Exchange Building atKitahama, Osaka.[17][18] The Osaka site would take over the entire operations of JPX in the event of a wide-ranging disaster in theNational Capital Region.[18] TSE and OSE transferred and integrated their data and digital businesses into JPXI.[19] 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.[19]
In July 2023, JPX launched a newstock market index, theJPX Prime 150 Index [ja], to track the performance of the Japaneseblue chips.[20] Subsequently, on March 18, 2024,Nomura Asset Management listed anexchange-traded fund (ETF) for the index on TSE,[21] the same day that index futures contract was launched on OSE.[22]
The JPX has been led by a President & CEO (combined in one role) since its formation in 2013.
JPX is acorporate group formed by the holding company, Japan Exchange Group, Inc., and its subsidiaries:[3]
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