London Stock Exchange Group plc (LSE) and Tokyo Stock Exchange Group, Inc. (the TSE) today published an outline framework for their new Tokyo-based market for growing companies. The proposed market structure has been developed following extensive discussion with market participants, and will take advantage of the opportunity created by the revised Financial Instruments and Exchange Act passed in June 2008, which enables the establishment of Exchange-regulated markets.
The new market structure will be based on the London Stock Exchange’s successful AIM market, which is underpinned by a regulatory framework specifically designed to suit the needs of smaller, growing companies, and by the key role played by Nominated Advisers (Nomads) in assisting issuers with meeting their obligations as public companies. It is anticipated that the new market will address the funding gap faced by growing companies in Japan and elsewhere in Asia, while providing new opportunities for a range of Japanese and international professional investors.
The new market will be a joint venture in which the London Stock Exchange and TSE are equal partners, and will apply for permission to establish the market as soon as possible following the implementation of the revised Financial Instruments and Exchange Act, aiming to start full operation of the market in early 2009.
For a detailed description of TSE / LSE new Market Framework July 2008 click here
Source: TSE 29.07.2008
Filed under: News, Asia, Exchanges, Japan, LSE Londo Stock Exchange, TSE Tokyo Stock Exchange
