Singapore Exchange Limited (SGX) and the Tokyo Stock Exchange (TSE) are to forge closer links in an effort to broaden distribution and enhance liquidity of products traded on both markets.
The alliance will involve cross access arrangements for the co-trading and clearing of products listed on both exchanges, new product development, marketing, information technology development and information sharing.
Thomas Kloet, CEO of SGX, believes the agreement represents a significant step towards the realisation of a linked pan-Asian marketplace.
Masaaki Tsuchida, TSE President and CEO, states: "I strongly hope that our deliberations lead to a partnership which will act as a catalyst for the formation of closer ties among capital markets in this region, and together, we can create an Asian hub linking the European and American time zones."