Nasdaq has suffered a setback in its plans to become an international exchange offering 24/7 trading. Nasdaq Japan is closing its operations and the president of the Nasdaq stock market says it plans to give more of its attention to Europe. However, market participants are doubtful that the exchange will have much success there either.
Nasdaq cites poor economic and market conditions for the closure of Nasdaq Japan. The business was predicated around attracting IPOs, and Nasdaq’s 30% of the IPO marketplace in Japan was obviously not enough to sustain the business.
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