The NASDAQ Stock Market, Inc. (NASDAQ) (Nasdaq:NDAQ) and the Tel Aviv Stock Exchange (TASE) today announced the signing of a Memorandum of Understanding (MOU) to formalise the relationship between the two markets.
Under the agreement, NASDAQ and TASE will develop the channels of communication between the two markets and work to facilitate the stronger trading of company shares admitted on both markets.
To mark the signing of the Memorandum, the Chief Executive of the Tel Aviv Stock Exchange, Ms. Ester Levanon, will attend the closing bell ceremony at NASDAQ in New York today. In addition, on 27 November, NASDAQ and TASE, in association with CIBC World Markets, will host the 2nd Annual NASDAQ TASE Israeli Investor Conference in New York, to bring Israeli issuers and the U.S. investment community closer together. Leading companies from the technology, healthcare, financial and industrial sectors are confirmed to present and host one-on-one meetings, in addition to a keynote address by Yarom Ariav, Director General, Ministry of Finance, Israel.
Robert Greifeld, President and Chief Executive Officer of NASDAQ, said "NASDAQ has had a thriving relationship with the Tel Aviv Stock Exchange for several years now. The MOU will formalize these ties and allow us to focus on helping each other and provide an even better capital markets environment for companies listed on both markets."
Commenting on the agreement, Ester Levanon, Chief Executive of the Tel Aviv Stock Exchange, said: "The development of the Tel Aviv Stock Exchange's international capability is a key strategic objective of the Exchange. Today's MOU is an historic event and is testament to the quality and opportunity that Israel's capital markets represent for U.S. investors today. With the number of NASDAQ-listed Israeli companies expected to grow over the coming years, NASDAQ will play an important role in the ongoing international development of our markets. I am very much looking forward to a long and mutually beneficial relationship."