JPX is due to begin introducing smaller tick sizes this week, while proprietary trading systems are making technology upgrades. But do retail investors really care?
Japan's two leading alternative trading systems are in talks to expand their services to Korea, where the regulator is moving to open up the market to competition.
While many welcome the planned reduction in tick sizes by the Tokyo Stock Exchange, SBI Japannext warns such a move could lead to a "tick-size war".
Positive investor sentiment over new Japanese prime minister Shinzo Abe's plans to spur growth have driven equity volumes to record levels on some trading venues.
A proposed exemption on users of proprietary trading systems (PTS) from a mandatory takeover rule is expected to drive market fragmentation.