Citibank wins clearing duties on Nasdaq Japan

The Nasdaq Japan MarketÆs International Section is due to open in April of this year with trading planned to start in June.

Nasdaq Japan and the Osaka Securities Exchange have appointed Citibank as the securities clearing agent for international stocks traded on the Nasdaq Japan Market, a section of the Osaka Securities Exchange OSE.

Citibank won the deal over Japan Securities Clearing Corporation JSCC, which already handles clearing of foreign stocks on the OSE. JSCC is a wholly-owned subsidiary of Tokyo Stock Exchange, where it also plays a central clearing role.

The Nasdaq Japan Markets International Section is scheduled to open in April, followed by trading planned for June. The Nasdaq Japan Market has been trading domestic stocks since June 2000 and the International Section is part of Nasdaqs global...

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