The Dôjima Rice Exchange, located in Osaka, was the center of Japan's system of rice brokers, which developed independently and privately in the Edo period and would be seen as the forerunners to a modern banking system. The Exchange’s predecessor, the Osaka Grain Exchange, was established in 1952 with the aim of rebuilding the prewar Dojima Rice Market with an eye toward listing rice in the future. Since then, while playing an important role in the economy of the Kansai region as a commodity exchange for trading grains, The origin of securities exchanges stems from Edo Period, when the exchange for rice & crop was established in Osaka, center of Japanese economy. Each prefecture set up its own warehouses in Osaka for shipping & preservation of their rice (to be taxed by the government), and sold them to merchants.