Long journey ahead for Japan exchange merger

The proposed merger of various Japanese exchanges under the banner of Tokyo Stock Exchange (TSE) should not be expected to be a straightforward process, sources have told FO Week. Although legislators in Japan as far up as senior government level are keen to boost the country's financial market competitiveness, and see exchange consolidation as part of that process, there is likely to be opposition.

Economics minister Hiroka Ota said that Prime Minister Shinzo Abe has asked for a firm plan on exchange competitiveness to be drawn up. Meanwhile, private sector members of Council on Economic and...