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New stock market expands investor options in Japan | News | Japan Bullet

New Stock Market Expands Investor Options In Japan


New stock market expands investor options in Japan

A new privately run securities exchange opened in Japan on Monday, giving investors an alternative venue for trading and longer hours than the Tokyo Stock Exchange.

The Osaka Digital Exchange, or ODX, is funded by financial heavyweights SBI PTS Holdings, Sumitomo Mitsui Financial Group, Nomura Holdings and Daiwa Securities Group.

The market will be open from 8:20 a.m. to 4 p.m., and will handle stocks and exchange-traded funds. The platform also aims to launch Japan's first trading system for digital tokens as early as next year, using blockchain technology for decentralized online bookkeeping.

Osaka Digital Exchange President Mikazuki Kimio says he hopes to create an attractive market to encourage a shift from savings to investments.

Japan has two other proprietary markets, accounting for just nine percent of the country's stock trading in value.

The new exchange will be the third, and the first to open in about 12 years.