February 10, 2014
Financial Research Center (FSA Institute)

International Conference on the Future of Asian Markets and Exchanges

The Financial Research Center of the Financial Services Agency (FSA Institute) hosts joint international conferences which bring together the financial industry, academia, and the government sector to discuss practical issues concerning the financial system. This fiscal year’s international conference was jointly hosted by the FSA Institute and Japan Exchange Group, Inc. on November 26, 2013. The conference was titled “The Future of Asian Exchanges and Markets.” As Asian exchanges are enlarging their footprint in the global financial markets, the conference focused on Asian Exchanges’ latest developments, current strategies, and challenges ahead and also explored the roles of the Tokyo market in Asia through presentation and panel discussion by experts on international financial markets, including senior officials of major exchanges. The conference was attended by over 300 participants, from the financial sector, the government sector, central banks, the business sector, academics, and foreign embassies in Tokyo.

At the start of the conference, Ryutaro Hatanaka, Commissioner of FSA welcomed participants and the audience from Japan and abroad, and then emphasized that in order to make the economic growth of Asia sustainable, it is imperative for Japan to revitalize the economy and proactively contribute to the growth of Asian economies, and to this end FSA will support the initiatives from the financial aspect. In addition, he stated that Japan wishes to enhance coordination and ties with Asian countries in the field of finance by sharing Japan’s expertise and experience in such areas as the development of financial systems, establishment of financial structures, and detailed methodologies for performing financial supervision. Then, Atsushi Saito, Director & Representative Executive Officer, Group CEO of Japan Exchange Group, Inc. delivered a keynote speech on the roles to be fulfilled by exchanges in Asia.

The conference comprised two sessions. The first session was “Challenges for Asian Exchanges,” followed by the second session, “The Role of Tokyo Market in Asia.” Both sessions were chaired by Naoyuki Yoshino, Director of FSA Institute and Professor of Economics, Keio University.

• Program(PDF:110KB), Summary of the Conference(PDF:175KB), Materials

International Conference
THE FUTURE OF ASIAN MARKETS AND EXCHANGES
Jointly Organized by Financial Services Agency and Japan Exchange Group, Inc.
Date: November 26, 2013
Venue: Auditorium, Third Floor, Central Common Government Offices No.7 East Wing 3-2-1
Kasumigaseki, Chiyoda-ku, Tokyo, Japan

13：00–13:10	Opening Remarks Ryutaro Hatanaka, Commissioner, Financial Services Agency, Japan (JFSA)
13:10–13:30	Keynote Speech Atsushi Saito, Director & Representative Executive Officer, Group CEO, Japan Exchange Group, Inc.
13:30–14:45 Chair:	Session I: Challenges for Asian Exchanges Naoyuki Yoshino, Director, Financial Research Center (FSA Institute) and Professor of Economics, Keio University

Materials Speakers Charles Xiaojia Li, Chief Executive, Hong Kong Exchanges and Clearing Limited Presentation slides(PDF：968KB) Pakorn Peetathawatchai, Executive Vice President, The Stock Exchange of Thailand Presentation slides(PDF：2,808KB) Commentators Shin-ichi Fukuda, Professor of Economics, University of Tokyo Presentation slides(PDF：475KB) Bob Takai, President & CEO, Sumitomo Shoji Research Institute, Inc. Presentation slides(PDF：1,140KB)

15:00–17:15 Chair: Session II: Panel Discussion: The Role of Tokyo Market in Asia Naoyuki Yoshino, Director, Financial Research Center (FSA Institute) and Professor of Economics, Keio University

Materials Speakers Michael Aitken, Professor of Finance, University of New South Wales Abstract(PDF：206KB) Presentation slides(PDF：474KB) Saskia Sassen, Professor of Sociology and Co-Chair of Committee on Global Thought, Columbia University Abstract(PDF：214KB) Panelists Jun Uno, Professor of Finance, Waseda University Presentation slides(PDF：2,285KB) Jonathan B. Kindred, President & CEO, Morgan Stanley MUFG Securities Co., Ltd. (Chairman, International Bankers Association of Japan) Presentation slides(PDF：525KB) Sam Y. Kim, Managing Director, Head of Trading & Liquidity Strategies Group, Asia Pacific, BlackRock Presentation slides(PDF：846KB) Toshihide Endo, Deputy Director-General, Planning and Coordination Bureau, JFSA Presentation slides(PDF：469KB)

17:15–17:20 Closing Remarks Naoyuki Yoshino, Director, Financial Research Center (FSA Institute) and Professor of Economics, Keio University