Nyse Euronext (NYX) and the Shanghai Stock Exchange (SSE) today signed a Memorandum of Understanding (MOU) to expand their current relationship by establishing a partnership for the joint development of Indexes and Exchange Traded Funds (ETFs) in China, the US and globally.
The MOU signed today builds on the existing cooperation agreement between the former New York Stock Exchange and the Shanghai Stock Exchange from October 2003.
Under the terms of today's MOU, NYSE Euronext and the Shanghai Stock Exchange will collaborate on joint development, research, marketing, and specialized trading technology, as well as co-branding of indices and Exchange Traded Products, including the listing of ETFs on the Shanghai Stock Exchange.
"We welcome the opportunity that enables China 's leading stock exchange and the world's leading venue for Exchange Traded Products to jointly expand our businesses," said Lisa Dallmer, Senior Vice President, Global Index and Exchange Traded Products, NYSE Euronext. "This further advances the development of both markets and we look forward to expanding our partnership with the Shanghai Stock Exchange to benefit investors and the financial-services industry in China, the U.S. and globally."
The original MOU establishing enhanced cooperation between the former New York Stock Exchange and the Shanghai Stock Exchange was signed on October 15, 2003. Both exchanges have since significantly expanded their activities in their respective markets, and in 2007, NYSE Euronext became the first foreign exchange to receive approval from the China Securities Regulatory Commission (CSRC) to open a representative office in Beijing.