Tokyo Market Adds Americans

The Tokyo Stock Exchange, the biggest equity market outside the United States, admitted three American and three British investment firms as its first foreign members today.

“I hope that the Tokyo Stock Exchange will develop as an international capital market stimulated by the entrance of foreign securities companies,” President Michio Takeuchi said at a news conference. The American companies admitted to membership are Merrill Lynch Securities Co., Morgan Stanley International Inc. and Goldman Sachs International Corp.