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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: Labrador who wrote (2827)	12/25/1999 4:21:00 PM
From: swisstrader	Read Replies (1) \| Respond to of 6018

Wall St. Journal article on Japan NDX launcing earlier...should be terrific for SFTBF and Trans Cosmos: December 24, 1999 NASD, Osaka Exchange Agree To Launch Nasdaq Japan Early By TERZAH EWING Staff Reporter of THE WALL STREET JOURNAL NEW YORK -- The National Association of Securities Dealers said it reached an agreement with Japan's Osaka Stock Exchange that will allow the NASD's Nasdaq Japan venture to launch half a year earlier than planned. Under the deal, the Osaka exchange will provide Nasdaq Japan with trade clearing and settlement and other regulatory services, plus a communications network to link more than 100 Japanese market participants to the new Nasdaq market. Nasdaq Plans to Launch Stock Market in Japan With Softbank as Its Partner (June 15) NASD officials said they still intend to build by next year's fourth quarter the Internet-based trading system originally intended to be Nasdaq Japan's backbone. The deal with Osaka, however, allows them to ramp up the new market's launch for at least some stocks to June or July of next year from the fourth quarter, without waiting for their own system. Such timing has become increasingly important as the Japanese stock market landscape becomes more competitive. Earlier this week, the Tokyo Stock Exchange's new small-company market, known as the Market of the High-Growth and Emerging Stocks, or Mothers, saw its first two listings double in price, the maximum allowable rise in Japan. Both new stocks were in the hot Internet sector, which Nasdaq Japan would like to capture for itself. "Competition is a pretty good motivator," said Frank Zarb, the NASD's chairman, of the role initiatives like the Tokyo exchange's played in getting a deal inked with Osaka sooner rather than later. With the Osaka deal, Japanese IPOs and U.S. companies with Japanese subsidiaries will be able to list on Nasdaq Japan as soon as next summer. U.S. companies without Japanese units will still have to wait until late next year to list. In exchange, the Osaka exchange will share in Nasdaq Japan's profits. But the exchange won't take any equity stake in Nasdaq Japan, which is jointly owned by the NASD and Softbank Corp. Nasdaq Japan was announced last June, part of the NASD's strategy to link global "pools of liquidity," or trading interest in its stocks. The NASD also plans to create a Nasdaq Europe and has alliances with the Stock Exchange of Hong Kong and the Australian Stock Exchange.