TEL AVIV
,
Feb. 10
/CNW/ -
Toronto
Stock Exchange and the
Tel Aviv
Stock Exchange (TASE) announced the signing of a Memorandum of Understanding (MoU) to formalise cooperation between the markets. Under the MoU, the exchanges will work to broaden relations between them by developing channels of communication; advancing opportunities for cross listing; supporting the respective regulatory authorities to develop a mutual recognition agreement; exploring the development and listing of financial instruments tracking the other's market indices; initiating joint conferences, and more.
This MoU is the fifth signed by the TASE, following those with LSE (England), NASDAQ (USA), NYSE-Euronext (USA &
Europe
), and SSE (
China
).
To mark the signing of the Memorandum, the chairman of TASE board of directors
Mr. Saul Bronfeld
, the TASE CEO
Ms. Ester Levanon
, and
Mr. Ungad Chadda
, Senior Vice President,
Toronto
Stock Exchange, took part in today's opening bell ceremony at the
Tel Aviv
Stock Exchange.
"
Toronto
Stock Exchange and our public venture capital marketplace, TSX Venture Exchange, are very pleased to be working more closely with the
Tel Aviv
Stock Exchange," said
Mr. Chadda
. "This MOU strengthens ties between the Israeli and Canadian capital markets and provides important opportunities for listed companies in both countries."
Commenting on the agreement, Ester Levanon, CEO of the
Tel Aviv
Stock Exchange, remarked: "The development of the
Tel Aviv
Stock Exchange's international exposure is one of TASE's key strategic objectives. This MoU is an important event and a testament to the opportunity that Israel's capital market represents for international investors seeking quality and growth. I look forward to a long and mutually beneficial relationship between TASE and the
Toronto
Stock Exchange."
About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy.
Toronto
Stock Exchange, TSX Venture Exchange,
Montreal
Exchange, Natural Gas Exchange,
Boston
Options Exchange (BOX), Shorcan, Equicom and other TMX Group companies provide trading markets, clearing facilities, data products and other services to the global financial community. TMX Group is headquartered in
Toronto
with offices in
Montreal
,
Calgary
and
Vancouver
. For more information about TMX Group, visit our website at: www.tmx.com
About the
Tel Aviv
Stock Exchange
Established in
September 1935
, the
Tel-Aviv
Stock Exchange is Israel's sole stock exchange, offering an increasingly sophisticated range of products to investors, including equity, corporate bonds, treasury bills and notes, index products and derivatives. The
Tel-Aviv
Stock Exchange features 622 companies listing equities, 372 index-tracking products, 38 series of government bonds, 594 series of corporate bonds and 1218 mutual funds. As of
January 2010
, the exchange's market capitalization in equities was over US$216 billion. In recent years, the exchange has enhanced its international presence, signing Memorandums of Understanding with the
London
Stock Exchange, NASDAQ, the
Shanghai
Stock Exchange and NYSE-Euronext. For more information about the TASE, visit the website at: www.tase.co.il.
For further information: For further information: Carolyn Quick, Director, Corporate Communications, TMX Group, (416) 947-4597, [email protected]
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