The London Stock Exchange (LSE) has signed a deal with the Tokyo Stock Exchange (TSE) to share technology, develop new products and co-operate on opening each other’s markets.
The LSE’s chairman Chris Gibson-Smith said, “The TSE 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.”
The eventual aim of the deal is to create a financial market for companies listed on both stock exchanges that will enable their shares to trade around the clock.
Earlier this month, the LSE rejected a bid from US stock exchange Nasdaq. Had the Nasdaq bid been successful, the LSE would have had access to the American exchange’s trading systems.
The “co-operation agreement” with TSE provides the LSE with access to the technology of a different major stock exchange.
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