Japan’s top economic council said that the country needs to speed up reforms to its exchanges and list more exchange traded funds (ETFs) to improve the market environment. Recent turmoil has stressed the need for the country to improve its economic situation.

According to the Daily Times, the Tokyo Stock Exchange (TSE) is the world’s second-largest bourse behind the New York Stock Exchange, yet it’s struggling to keep up with the other major exchanges in Asia.

Right now, the Financial Services Agency must approve all new ETFs before they’re listed. The economic council welcomes the moves to allow them to be listed on the TSE in an effort to link the exchanges of various countries and make Japan’s capital markets more competitive.

Could this be the beginning of a brighter future?

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