TORONTO, Oct. 16, 2017 /CNW/ - TMX Group Limited [TSX:X] (TMX Group) and the Shenzhen Stock Exchange (SZSE) are pleased to announce the execution of a non-binding Memorandum of Understanding (MoU) pursuant to which TMX Group and SZSE agree to explore opportunities for economic cooperation with a specific focus on the technology and innovation sectors, areas that are experiencing rapid growth in both Canada and China.
Under the scope of the MoU, TMX Group and SZSE intend to create the "China-Canada Technology and Innovation Companies Service Initiative" (the China-Canada Initiative) with the goal of connecting investors and companies in the technology and innovation sectors in each of the two countries through an expanded capital formation platform. The China-Canada Initiative will include a combination of existing services, facilities and networks. As part of this initiative, SZSE and TMX may also explore the possibility of creating trading, and clearing and settlement connections between Canada and China.
"TMX and SZSE share a commitment to exploring new pathways to growth for innovative companies of all sizes across our markets," said Lou Eccleston, CEO, TMX Group. "With this MoU, we look forward to the collaborative work ahead as we seek to leverage the strengths and expertise of our two organizations to establish lasting, mutually beneficial connections between our markets and our countries."
"China and Canada have a great potential for economic cooperation especially in the technology and innovation sectors," said Wang Jianjun, President and CEO, SZSE. "Both SZSE and TMX are dedicated to building a multi-tier market to cater to demands of innovative companies at different developing stage and we have lots of common ground for future cooperation."
The MoU was subject to approval from the China Securities Regulatory Commission, which was obtained on September 27, 2017, and is effective for a period of five years.
About Shenzhen Stock Exchange
Shenzhen Stock Exchange (SZSE) is a self-regulated legal entity under the supervision of China Securities Regulatory Commission (CSRC). It also organizes, supervises securities trading and performs duties prescribed by laws, regulations, rules and policies. Its main functions include providing the venue and facilities for securities trading, formulating operational rules, receiving listing applications and arranging securities listing, organizing and supervising securities trading, supervising members; regulating listed companies, managing and disseminating market information and other functions as approved by the CSRC.
About TMX Group (TSX: X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy.Toronto Stock Exchange,TSX Venture Exchange,TSX Alpha Exchange,The Canadian Depository for Securities,Montréal Exchange,Canadian Derivatives Clearing Corporation,NGX,Shorcan,Shorcan Energy Brokers,AgriClear and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montréal, Calgary and Vancouver), in key U.S. markets (New York, Houston) as well as in London, Beijing and Singapore. For more information about TMX Group, visit www.tmx.com. Follow TMX Group on Twitter:@TMXGroup.
SOURCE Toronto Stock Exchange
For further information: Amy Mulhern, Manager, Communications and Public Affairs, TMX Group, 416-947-4210, email@example.com; Zhang Wanning, International Department, Shenzhen Stock Exchange, +86 755 8866 8625, firstname.lastname@example.org