2m 2s: Lenght

SHOTLIST 1. Mid of Tokyo Stock Exchange President Atsushi Saito and Osaka Securities Exchange President Michio Yoneda walking into news conference 2. Cutaway of cameras 3. Wide of news conference 4. SOUNDBITE (Japanese) Atsushi Saito, President, Tokyo Stock Exchange Group Inc. "Japan will fall behind if we speak just of the differences between Tokyo and Osaka. That is why I think merging Osaka, which is strong on derivatives, with Tokyo, which is strong on cash equity trading, will be best for Japan." 5. Cutaway of reporters 6. SOUNDBITE (Japanese) Michio Yoneda, President, Osaka Securities Exchange Co. "We'll be able to adapt to changing external conditions by taking advantage of the strengths of both exchanges through the merger and creating a new exchange. I think this is the best way to boost Japan's competitiveness." 7. Various of Saito and Yoneda shaking hands 8. Wide of the Tokyo Stock Exchange 9. Various of the building's exteriors 10. Various of the Tokyo Stock Exchange's interiors 11. Various of electronic ticker showing stock prices STORYLINE As global competition between bourse operators intensifies, the Tokyo Stock Exchange is making a 1.1 (b) billion US dollar offer for its Osaka rival under a plan to join the two markets by January 2013. The Tokyo Stock Exchange Group Inc. said on Tuesday it will pay 480-thousand yen (6,239 US dollars) for each share of Osaka Securities Exchange Co. in a tender offer. The TSE wants to buy between half and two-thirds of OSE's 270-thousand issued shares. The offer represents a 14 percent premium to OSE's closing price on Monday. Japan's bourses are joining forces at a time of increasing competition and consolidation among the world's stock exchanges. Deutsche Boerse and NYSE Euronext are awaiting European Union approval of their merger, which would create the world's largest exchange operator. The Tokyo Stock Exchange is the world's No. 3 exchange by market capitalisation of its listed companies, behind NYSE Euronext and Nasdaq OMX Group Inc. The two Japanese companies said in a joint statement the deal would bolster Japan's role as an international financial centre and serve as a "step toward the revitalisation of the Japanese economy." "Japan will fall behind if we speak just of the differences between Tokyo and Osaka," TSE president Atsushi Saito told reporters at a joint news conference with Osaka Securities Exchange President Michio Yoneda in Tokyo. "That is why I think merging Osaka, which is strong on derivatives, with Tokyo, which is strong on cash equity trading, will be best for Japan," he added. The TSE dominates cash equity trading, while the OSE specialises in derivatives. By integrating trading systems, they estimate savings of seven (b) billion yen (90.8 (m) million US dollars). The resulting company will be known as Japan Exchange Group Inc. Saito will serve as the new company's chief executive, while Yoneda will act as chief operating officer. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/dddf0644504ee56f1fb98da7e9d3bb41 Find out more about AP Archive: http://www.aparchive.com/HowWeWork