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May 28, 2017

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Taiwan considers cross-border stock trading with Japan

TAIPEI -- Taiwan will study the possibility of launching cross-border stock trading with Japan in a bid to boost internationalization of the local market, Taiwan's top financial regulator said Friday.

Financial Supervisory Commission (FSC,金融監督管理委員會) Chairman Tseng Ming-chung (曾銘宗) said he will instruct the Taiwan Stock Exchange (TWSE,台灣證券交易所) and the GreTai Securities Market (GTSM,櫃檯買賣中心), which operates the local over-the-counter market, to assess the feasibility of such cooperation with Japan.

Tseng said the FSC will push for dual listings of Taiwanese and Japanese companies on the stock exchanges of both countries, and the TWSE and GTSM will try to help achieve this goal as soon as possible.

One of the most important issues in the local financial sector is how to strengthen internationalization of Taiwan's equity market, Tseng said.

In addition to pushing the cross-border trading initiative, Taiwan and Japan are expected to jointly develop new products to boost trading interest, he said at a seminar on cooperation between Taiwan and Japan in the area of capital markets.

The seminar, organized by the TWSE, heard a keynote address by Atsushi Saito (齊藤惇), Chief Executive Officer of Japan Exchange Group Inc. (日本取引所), on the development of Japan's equity market.

Japan Exchange Group was established in January 2013 after a merger between Tokyo Stock Exchange Group (東京証券取引所) and Osaka Securities Exchange Co. (大阪証券取引所)

The TWSE said that through the seminar, Taiwan and Japan seek to forge closer business ties between their financial markets in a bid to help local enterprises obtain alternative funding sources for future development.

In addition, the TWSE said, cooperation with Japan Exchange Group is expected to help diversify the local exchange's product portfolio, which will encourage the public to move their funds from bank deposits into the equity markets.

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