The Australian Securities Exchange (ASX) has admitted Japanese investment bank Nomura as a market participant.
According to Nomura, the new licence is part of its continued expansion in Australia and complements the growth of its Asia-Pacific equity platform. The company acquired the Asia-Pacific franchise of failed investment bank Lehman Brothers in September 2008.
Nomura is now ranked number one on the Tokyo Stock Exchange (TSE) in terms of value of shares traded and has increased its share of TSE turnover from 6% in January 2009 to 10% in December 2009. The firm said similar growth rates have occurred in all other major Asian exchanges outside Japan.
“Australia is a key market for Nomura and we will continue to make strategic moves such as these to expand our coverage and strengthen our offering to clients in Australia,” said Sigurbjorn Thorkelsson, head of equities, Asia-Pacific at Nomura, in a statement. “Nomura has had a long and respected history with Australia and gaining admission to ASX as a participant is evidence of Nomura’s strong commitment to invest and grow its business in Australia.”