The chief executive of the Japan Exchange Group, the third-largest exchange in the world by stock market capitalisation, has told Financial News he is looking for foreign partners to help boost the group's flagging derivatives franchise.

Speaking to Financial News in Hong Kong, Atsushi Saito, chief executive of the JPX Group, said tie-ups on the cash equities side of the exchange business remained unfeasible due to long-standing national protectionism of local stock markets, but that he saw a lot of opportunity to collaborate with other exchanges in the creation and distribution of derivatives products.