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Japan Exchange Group, Inc. (JPX) will lead a new global initiative on financial education and entrepreneur programs for students. The new 30-member Financial Education and Literacy Study Group, formed with the World Federation of Exchanges (WFE), will allow JPX to extend the reach of its CSR efforts and share its expertise and experience of financial education for young people while continuing to offer a wide range of programs in Japan.
Together with other members of the study group, JPX will put together an action plan to promote active-learning financial education and hands-on entrepreneur programs for young people by April 2016.
In concrete terms, JPX will share how it has successfully impressed upon students the importance of the capital market through courses and stock trading games, and how it has cultivated curiosity and the entrepreneurial spirit in many young people with its "JPX Entrepreneur Program", which encourages students to think through business ideas and acquire the practical skills involved in setting up a company.
The study group will review the range of initiatives already available and help exchanges set up and run similar programs. It will also develop a framework for selecting and recognizing excellence and achievement in program participants around the world. The group will also seek to build a network of like-minded organizations and individuals engaged in financial education and nurturing a culture of entrepreneurship.
Since the 2008 financial crisis, global leaders have shared common ground on financial education. With the G20 and the OECD supporting moves to improve financial literacy to facilitate informed financial activity, financial educators will be called upon to increase their efforts as financial literacy gains importance in national educational policie
"Today, foreign investors account for 60% to 70% of trading at TSE and OSE, and we see more cross-market ETF listings. In Asia, the Shanghai-Hong Kong Stock Connect and the ASEAN Trading Link are also proof of progress toward markets and trading beyond borders. With capital markets becoming increasingly globalized and borderless, we recognize the need for a cross-border group to align and discuss the direction of financial education, and will lead the study group to prepare our future generations for active participation in capital markets," JPX Group CEO Akira Kiyota said.
"JPX and other WFE members have been pioneers in the field of financial education for young people," WFE CEO Nandini Sukumar said.
"For regulated markets, financial literacy and investor education is a core mission and goes hand in hand with efforts to promote transparency and trust in markets. There is an abundance of best practice in this field that WFE members can share with clearing houses and fellow exchanges around the world. The WFE – with its global and diverse membership is the place where public markets globally will come together to share these valuable lessons and so further the promotion of financial literacy and education," Sukumar added.
As a founding member of the study group, JPX aims to advance the educational initiatives of participating members and further the common interest of regulated exchanges in financial education and entrepreneur programs.
