Plus Markets Group plc is extending its international scope with an agreement with NZX, the New Zealand stock exchange.
This follows an earlier PLUS agreement, announced in July 2008, with Bayerische Boerse, the Munich stock exchange, as the basis for co-operation on European securities trading and listing.
The non-binding Memorandum of Understanding with NZX links PLUS with the Asia-Pacific market. NZX operates a main board securities market, a growth market and debt market. The market capitalization of all three combined is around US$50 billion.
Under the agreement, the two exchanges will explore the potential for regulatory alignment which will enable companies listed or seeking a listing on either exchange to fast-track dual-list, facilitating access to capital for small and mid-cap companies to a much broader range of investors than would otherwise be the case on the home market. In particular, PLUS as a new stock exchange for London is ideally positioned to offer Asia-Pacific small and mid-cap companies access to the deep pools of capital located here.
Nemone Wynn-Evans, Chief Financial Officer, said "NZX is an extraordinarily innovative exchange with some exciting trading and exchange infrastructure services. It is also positioned in a fast growing region and we look forward to offering internationally-focused companies and investors access to a broader pool of international liquidity and opportunity."