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.
SOURCE Toronto Stock Exchange
For further information: For further information: Carolyn Quick, Director, Corporate Communications, TMX Group, (416) 947-4597, firstname.lastname@example.org