Japan Exchange Group Inc., operator of the Tokyo Stock Exchange, will start merger talks with smaller rival Tokyo Commodity Exchange Inc., the companies said Tuesday as the country pushes to create an all-in-one bourse to attract global money.
Japan Exchange Group, known as JPX, and the commodity exchange, known as Tocom, said they have signed a nondisclosure agreement to start talks on "an integrated exchange."
Merging JPX with Tocom would create an integrated bourse that offers trades in stocks, derivatives and commodities futures.
JPX also owns Osaka Exchange Inc., which runs derivatives markets such as index futures and Japanese government bond futures. Tocom lists products such as precious metals, oil and rubber.
The government has been pushing for the creation of an integrated exchange, a move it sees helping Japan to become more competitive among global financial hubs.