TOKYO, Nov. 20 (Xinhua) -- Shareholders on Tuesday approved Tokyo Stock Exchange Group Inc. and Osaka Securities Exchange Co.' s merger on Jan. 1 and the establishment of the holding company for the two bourses - Japan Exchange Group Inc..
The merger will create one of the largest securities exchanges in the world. However, the new entity will likely face challenges in fighting invigorating sluggish securities trading in the country, local media reported.
"We will look into the difference of transaction fees," Tokyo Stock Exchange President Atsushi Saito said, "Our basic thinking is to share all the benefits generated by the merger with trading participants."
Altogether, Japan's two biggest bourses rank fourth in the world based on the aggregate value of the shares of the businesses listed as of October.