GLOBEX STALLED ON THE STARTING BLOCK.

This article reports that Tokyo's financial establishment is expressing increasingly cautious views on allowing Globex, the electronic futures and options trading system developed by Reuters and the Chicago Mercantile Exchange (CME), into Japan. Jurisdictional and supervisory problems have to be solved first, government officials explain. In private they assert that Chicago is trying to dominate futures and options trading around the world. In September 1989, the Ministry of Finance stymied bids by some Japanese financial institutions, including Mitsui Trust and Banking, to install Globex terminals. Since then Globex has been hard at work explaining its system and its intentions in Japan.