The NASDAQ Stock Market LLC and the JASDAQ Securities Exchange, Inc. (JASDAQ) today announced the signing of a Memorandum of Understanding.
The signing ceremony will take place in New York at NASDAQ's corporate headquarters in downtown Manhattan.
NASDAQ and JASDAQ have entered into this agreement to explore areas of mutually beneficial and meaningful cooperation with a view to reaching definitive agreements in the future. These areas will be in the interests of maintaining fair and orderly markets and will be in the best interests of listed companies.
Bob Greifeld, President and CEO of The Nasdaq Stock Market, Inc. said, "NASDAQ looks forward to further strengthening our relations with JASDAQ and formalizing working agreements in the future. NASDAQ has been involved in the Japanese and other Asian markets for many years, beginning with our first Japanese listings back in 1971. We believe there will be a number of channels of cooperation to explore with JASDAQ."
Takashi Tsutsui, the president and CEO of JASDAQ said, "JASDAQ is very pleased to develop a complementary trans-Pacific relationship with NASDAQ, as both exchanges are the home of IPOs in their respective markets. We hope that our cooperation will contribute to the substantial benefit of investors, listed companies and other participants in the market as well as serve the concrete interest of each exchange."
NASDAQ currently lists 11 Japanese companies, and these companies' combined global market capitalization is approximately US$ 153 billion.