Japan Seeks Market Integration

By McFarlin, Michael | Modern Trader, January 2011 | Go to article overview

Japan Seeks Market Integration


McFarlin, Michael, Modern Trader


[ILLUSTRATION OMITTED]

Although the Asia-Pacific region has become one of the fastest growing areas of financial interest, very little has been said about recent Japanese propositions to overhaul the country's exchanges and attract foreign investment.

Government officials have signaled a desire to restore Japan's position as an important regional financial center. While the Tokyo Commodity Exchange (Tocom) was once the second-largest commodities exchange after the New York Mercantile Exchange, it ranked 11 last year and was surpassed by China's Shanghai and Dalian exchanges.

"For the first half of 2010, the [Osaka Securities Exchange] (OSE) was ranked 15 in terms of contract volume in the world; Tokyo Financial Exchange was 18.

What's happening is that even though China is closed to foreign traders, they are climbing quickly in terms of volume along with India," says Paul Rowady, senior analyst at TABB Group.

The growth of numerous geographically close exchanges while interest in Japanese markets stagnates has prompted some in the Japanese government to discuss combining securities, currencies and commodities bourses by 2013 to boost trade and remain competitive.

A number of proponents, including Futures Industry Association (FIA) Japan Vice President Yasuo Mogi, have pointed to the "silo" structure of Japanese market regulation as the biggest detriment to growth. In a Nov. 19 public hearing on the issue he explained that existing laws, regulations and rules currently are separated into regulatory silos. Further, separate regulatory agencies and self-regulating organizations each issue their own reporting requirements based on which regulatory silo they represent. The result is a regulatory quagmire.

In FIA Japan's November newsletter, Chairman Mitch Fulscher wrote, "The critical issue to be first addressed is the need to break down the silos created by separate laws, separate regulatory agencies and regulations issued by the separate regulators and self-regulatory agencies . …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Japan Seeks Market Integration
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.