The Tokyo Stock Exchange Group, Inc. (TSE Group) today entered into an agreement with NYSE Euronext, which will advise the TSE Group on several key areas of information technology.
Initially, NYSE Euronext engineers will work closely with their counterparts at TSE Group to provide detailed information and recommendations on network management and operation, as well as exchange system capacity and performance management, to assure a stable and state-of-the-art trading environment with optimal message capacity.
The agreement between the exchanges was reached within the framework of the NYSE Euronext/TSE Group strategic alliance. The letter of intent establishing the alliance, signed this January, calls for the two world financial market leaders to jointly develop and explore new opportunities in trading systems and technology, investor and issuer services, investment products, and governance and regulation, and it also sets the stage for a potential capital alliance. The exchanges have established working groups in each of these areas which have been meeting on a regular basis to explore concrete areas for cooperation. The technology consulting agreement announced today represents the first of what the exchanges anticipate will be a series of cooperation measures resulting from this dialogue.
Atsushi Saito, President & CEO, TSE Group, commented: "I am delighted that both exchanges have established further cooperative relationships. We see that, based on this agreement, receiving advice from the NYSE Euronext will enhance our system operations and benefit a variety of market participants".
"We are pleased at the progress made in developing our strategic alliance with the Tokyo Stock Exchange, and we are exploring cooperation in a number of areas that are beneficial to both parties," said John A. Thain, CEO, NYSE Euronext. "The new consulting relationship with the TSE Group further strengthens our partnership and provides the opportunity to share our systems and technological expertise with one of the world's premier financial markets."