The largest futures exchanges in Japan are set to announce a merger this week as part of a national effort to take on foreign rivals and restore Tokyo’s place as the financial centre of Asia.
According to people briefed on the negotiations, Japan Exchange Group (JPX) — owner of the Tokyo and Osaka stock exchanges — will announce a basic agreement to acquire the Tokyo Commodity Exchange (Tocom) after a board meeting on Thursday.
The merger is aimed at creating a single, consolidated financial exchange that can boost trading volumes, bring down capital requirements and better compete with giant rivals such as CME Group and Intercontinental Exchange.
Full Content: Financial Times
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