Tokyo Stock Exchange Inc. (TSE) and Osaka Securities Exchange Co. merged their operations on Tuesday to create the world\'s fourth-largest stock market. Shares of the Japan Exchange Group Inc., a holding company for the two exchanges, will be listed on the first section of the TSE on January 4 when the Japanese financial markets reopen after new year holidays. The merger of nation\'s two main bourses is a part of the government\' plan to create Asia\'s biggest comprehensive exchange that will trade stocks, commodities and other securities to attract funds from both Japanese and foreign investors. The two bourses\' cash stock trading will be consolidated into the TSE in July, while derivatives is scheduled to be integrated at the Osaka exchange in 2014. Both bourses were established in 1878. The merger comes amid increasing competition among the global stock exchanges, as the trading value of Japan\'s cash stock market has shrank to less than half of its 2007 peak.