The Birth of Competition: Japan's High-Tech Stock Exchanges

February 19, 2001

Abstract

Boston, MA, USA   February 19, 2001

Japan's New Technology Stock Exchanges

In a new report entitled "The Birth of Competition: Japan痴 High-Tech Stock Exchanges," Celent Communications evaluates Japan痴 new technology-oriented stock exchanges.

The report finds that the greatest impact of these markets will be to usher in an era of competition that will result in improved trading efficiencies in Japan痴 equities markets. The report provides a comprehensive analysis of the structure, including Japan痴 new market maker systems, listing requirements, performance and future trends of the following stock markets:

Nasdaq Japan
TSE Mothers
Jasdaq

According to Neil Katkov, the author of the report, "Because Japan痴 established technology giants will also control the emerging new technologies, the high-tech exchanges will not be significant drivers of capital growth. Yet the intense competition between them will raise the bar for execution and price formation efficiencies in Japan痴 equities markets. While Nasdaq Japan is leading the way in terms of innovation, in the end Nasdaq Japan will be no match for the clout of the Tokyo Stock Exchange and its new market section, Mothers."

A Table of Contents is available online.

of Celent Communication's Institutional Securities & Investments research service can download the report electronically by clicking on the icon to the left.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

 

 

Boston, MA, USA, February 19, 2001

The Birth of Competition: Japan's High-Tech Stock Exchanges

Return to report Abstract

EXECUTIVE SUMMARY  3
INTRODUCTION 4
  Market Overview  4
NASDAQ JAPAN  7
  Market Structure  7
  Listing Requirements 9
  Market Performance 10
  Future Plans 11
MOTHERS 13
  Market Structure 13
  Listing Requirements 14
  Market Performance 15
  Future Plans 16
JASDAQ 17
  Market Structure 17
  Listing Requirements 20
  Market Performance 20
COMPARATIVE ANALYSIS 22
  Market Performance 22
  Market Structure 24
  Future Trends 25
CONCLUSIONS 27

 

        

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