Japan Approves Nasdaq-100 ETF, Will Begin Trading QQQ in Summer
April 15, 2002
The Nasdaq Stock Market announced that the Japanese Financial Services Agency has selected the Nasdaq-100 Index as eligible for Japanese exchange-traded funds.
Last year, Japan amended its investment trust regulation to allow for ETFs. However, they are only allowed to track Japanese indices, such as the Nikkei or TOPEX, said Shunzo Kayanuma, general manager of the Tokyo Stock Exchange.
"This year, our government is flexible enough to expand that and allow us to trade ETFs [based] on other indices," Kayanuma said. The TSE will trade the ETF this summer.