LSE and TSE link up confirmed
(27 February 2007 – UK) A co-operation alliance between the London Stock Exchange (LSE) and the Tokyo Stock Exchange (TSE) has been confirmed.
The alliance will see the two bourses share information on technology and product development.
The LSE has fought off takeover attempts from Nasdaq and Macquarie Bank; approaches which London described as "ill-considered". The alliance with Tokyo leaves it more strongly placed.
A joint task force involving senior management from the LSE and TSE is set to begin a series of meetings in the near future to fully explore the potential of the partnership.
The aim is to eventually create a round-the-clock trading environment with the parties co-operating on the operation and regulation of markets for growth companies, and the creation of jointly traded products and initiatives to allow members access to the other’s markets.
'The Tokyo Stock Exchange is an immensely important global market, and we see our co-operation agreement with it as an exciting opportunity to broaden the scope of the services that we are able to offer issuers, investors and member firms,' LSE chairman Chris Gibson-Smith said.
The TSE has a similar arrangement with the New York Stock Exchange.
The LSE has fought off takeover attempts from Nasdaq and Macquarie Bank; approaches which London described as "ill-considered". The alliance with Tokyo leaves it more strongly placed.
A joint task force involving senior management from the LSE and TSE is set to begin a series of meetings in the near future to fully explore the potential of the partnership.
The aim is to eventually create a round-the-clock trading environment with the parties co-operating on the operation and regulation of markets for growth companies, and the creation of jointly traded products and initiatives to allow members access to the other’s markets.
'The Tokyo Stock Exchange is an immensely important global market, and we see our co-operation agreement with it as an exciting opportunity to broaden the scope of the services that we are able to offer issuers, investors and member firms,' LSE chairman Chris Gibson-Smith said.
The TSE has a similar arrangement with the New York Stock Exchange.
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