OSE May Set Up Own Commodity Market

Osaka, July 10 (Jiji Press)--Osaka Securities Exchange Co. may launch a commodity futures market on is own, without seeking an alliance with an existing operator in or outside Japan, OSE President Hiromi Yamaji has said. "We may consider tying up with a Japanese or overseas exchange, or may opt to go it alone," Yamaji said in an interview, asked whether the exchange will start a commodity futures service. OSE and Tokyo Stock Exchange Inc., both subsidiaries of Japan Exchange Group Inc. <8697>, or JPX, are slated to integrate their cash stock markets on Tuesday and their financial derivatives markets in March 2014. The market integrations will "help improve the JPX group's operational efficiency and provide more convenient services," Yamaji said. The group is ready to offer attractive products and review its trading rules and systems, he said. Whether to extend trading hours will be studied after the integration of the derivatives market, he added. Yamaji indicated that the JPX group's integration with an overseas exchange operator will be unlikely. "It is difficult for leading exchanges in different countries to realize a cross-border integration," Yamaji said, adding that the JPX group will seek alliances with overseas operators on a product-by-product basis. END