Nasdaq Japan has announced that it is to halt its operations on the Osaka Stock Exchange in October.
Citing difficulties in overcoming its financial troubles amid the sluggish stock-trading environment, the exchange will keep the existing market for start-ups running, eventually changing its name to the Japan New Market.
Nasdaq Japan said in a statement that the Osaka Securities Exchange, which runs the market, will liquidate the contract to run the market on October 15th.
However, it added that "equity trading for (currently) listed companies can be continued on the Osaka Securities Exchange" and that it would do its utmost to establish market stability in the near term.
Nasdaq Japan has also permitted the Osaka Securities Exchange to use the Nasdaq brand name until the end of this year.
