The president of the Tokyo Stock Exchange has pledged a push into exchange-traded funds before the end of next year, the exchange's latest effort to reverse the loss of business to emerging regional rivals.

Atsushi Saito, the president of the TSE, which today has 10 ETFs, said the exchange would have a total of 50 funds before the end of 2008 and 100 funds eventually. Exchange traded funds are pools of assets that track exchange indexes.