Kyodo News
The Financial Services Agency on Friday granted Jasdaq Market Inc., the operator of an over-the-counter stock market, a license to convert into a full-scale stock exchange.
It will be the first launch of a securities market in 55 years in Japan since the Sapporo Securities Exchange was founded in 1949.
The new Jasdaq stock market will begin operations on Dec. 13 with 119 securities companies participating and 942 stock names listed.
Financial Services Minister Tatsuya Ito said at a news conference that the launch "is likely to promote competition among exchange markets and widen options for investors. It will lead to revitalizing the economy."
The conversion will enable Jasdaq to execute transactions that it could not perform before, including futures and options trading, and margin trading.