The Nasdaq OMX Group (Nasdaq:NDAQ) and the Taiwan Futures Exchange (TAIFEX) have signed a Memorandum of Understanding (MOU) with the intent to pursue a business partnership.
The two exchanges will share information and best practices regarding product development, market operations and common interest areas in the derivatives market.
"In response to the rapidly changing global financial landscape, TAIFEX and NASDAQ OMX will work closely to leverage unique knowledge from each other's markets," said TAIFEX President Steve Wang. "NASDAQ OMX is an intercontinental and well-established exchange that has made an impressive mark in the derivatives market. I believe that both TAIFEX and NASDAQ OMX will benefit after the establishment of this MOU."
"I am confident that our agreement with TAIFEX will provide a solid platform for our exchanges to pursue a mutually beneficial relationship," said Magnus Bocker, President of NASDAQ OMX. He continued, "TAIFEX offers one of the world's fastest growing derivatives markets in one of the leading financial centers of the world and we look forward to drawing on their experience. In addition, this agreement further strengthens NASDAQ OMX's presence in the Asia-Pacific region, where our technology today powers 12 exchanges."
The MOU signing ceremony took place at the FIA Conference in Boca Raton, Florida on March 12th, with TAIFEX CEO Steve C. Wang and NASDAQ OMX President Magnus Bocker participating.