JASDAQ, Kosdaq in tie-up talks

Nasdaq's greater presence in Asia has spurred the region's start-up bourses to begin tie-up talks

By Staff and reports

TOKYO, Japan (CNN) -- Japan's JASDAQ, South Korea's Kosdaq, and other Asian start-up markets plan to meet in October to begin tie-up talks.

Representatives from the over-the-counter markets in Singapore and Taiwan, as well as from Hong Kong's Growth Enterprise Market (GEM), will also participate in the talks to be held in Seoul, the Nihon Keizai Shimbun reports.

The possible alliance between the Asian exchanges is aimed to attract investments and overseas funds, as well as better compete with the U.S. Nasdaq market, which has been expanding into Asia and Europe.

Heated competition

China's Shenzhen Stock Exchange, which plans to open a market for start-ups, may also join the meeting, the report added.

The leaders from the Asian bourses are expected to discuss cross-listings, as well as ways to let securities companies and retail investors to buy and sell orders with partner markets.

Other potential agenda items to be discussed include listing criteria, information disclosure, unified standards and trading systems.

Competition for start-up exchanges has increased since last year's launch of Nasdaq Japan -- a partnership between Nasdaq and the Osaka Securities Exchange.

Moves by Nasdaq Japan and the Tokyo Stock Exchange to invite high-tech South Korean companies to list on their bourses have also fueled the competition.