October 23, 2018 / 6:25 AM / 22 days ago

Japan Exchange Group to start merger talks with Tokyo Commodity Exchange

TOKYO (Reuters) - Japan Exchange Group Inc (JPX) (8697.T), owner of Tokyo Stock Exchange, will start merger talks with smaller rival Tokyo Commodity Exchange Inc, the companies said on Tuesday, as Japan pushes to create an all-in-one bourse to attract global money.

JPX and the commodity exchange, known as TOCOM, said they have signed non-disclosure agreement to start talks on “an integrated exchange.”

Merging JPX with TOCOM, would create an integrated bourse that offers trades in stocks, derivatives and commodities futures.

JPX also owns Osaka Exchange Inc, which runs derivatives markets such as index futures and JGB futures. TOCOM lists products such as precious metals, oil and rubber.

The government has been pushing for the creation of an integrated exchange, a move it sees helping Japan to become more competitive among global financial hubs.

Reporting by Takahiko Wada and Taiga Uranaka; Editing by Simon Cameron-Moore

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