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Japan Exchange to Partner With Turkey Bourse on Islamic Products

Jan. 10 (Bloomberg) -- Japan Exchange Group Inc., the bourse formed this month from the merger of the country’s biggest venues, signed a memorandum of understanding with Turkey’s bourse that paves the way for Islamic financial products to be traded in Japan.

The deal would be the 38th tie-up between the country’s biggest bourses and overseas markets, the Japan Exchange said in a statement. It also agreed with the National Stock Exchange of India to give Japanese investors access to Indian derivatives under the terms of a previous agreement.

Shares of Japan Exchange accelerated gains after the Nikkei newspaper reported the outline of the deals earlier today, closing 4.2 percent higher at 4,090 yen. The bourse was formed Jan. 1 from the combination of Tokyo Stock Exchange Group Inc. and Osaka Securities Exchange Co.

To contact the reporters on this story: Anna Kitanaka in Tokyo at akitanaka@bloomberg.net; Toshiro Hasegawa in Tokyo at thasegawa6@bloomberg.net

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net

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