Announcement Due on ‘Japanese Nasdaq’
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The Nasdaq Stock Market is expected today to announce plans with Tokyo-based Softbank Corp. to create a Japanese version of the electronic Nasdaq market.
The market will focus on companies with sales in both the United States and Japan, including some U.S. companies that already trade on Nasdaq, sources said. American and Japanese broker-dealers both would trade shares on the new market, which is expected to start operating as early as next year.
Nasdaq’s plans were reported in Japan’s Nihon Keizai newspaper.
National Assn. of Securities Dealers Chairman Frank Zarb, who is in Tokyo discussing the plan with Japan’s Ministry of Finance, was expected to make the announcement this morning.
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