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Toronto and Tel Aviv exchanges ink MoU

10 February 2010  |  1983 views  |  0 Source: Toronto Stock Exchange

Toronto Stock Exchange and the Tel Aviv Stock Exchange (TASE) announced the signing of a Memorandum of Understanding (MoU) to formalise cooperation between the markets.

Under the MoU, the exchanges will work to broaden relations between them by developing channels of communication; advancing opportunities for cross listing; supporting the respective regulatory authorities to develop a mutual recognition agreement; exploring the development and listing of financial instruments tracking the other's market indices; initiating joint conferences, and more.

This MoU is the fifth signed by the TASE, following those with LSE (England), NASDAQ (USA), NYSE-Euronext (USA & Europe), and SSE (China).

To mark the signing of the Memorandum, the chairman of TASE board of directors Mr. Saul Bronfeld, the TASE CEO Ms. Ester Levanon, and Mr. Ungad Chadda, Senior Vice President, Toronto Stock Exchange, took part in today's opening bell ceremony at the Tel Aviv Stock Exchange.

"Toronto Stock Exchange and our public venture capital marketplace, TSX Venture Exchange, are very pleased to be working more closely with the Tel Aviv Stock Exchange," said Mr. Chadda. "This MOU strengthens ties between the Israeli and Canadian capital markets and provides important opportunities for listed companies in both countries."

Commenting on the agreement, Ester Levanon, CEO of the Tel Aviv Stock Exchange, remarked: "The development of the Tel Aviv Stock Exchange's international exposure is one of TASE's key strategic objectives. This MoU is an important event and a testament to the opportunity that Israel's capital market represents for international investors seeking quality and growth. I look forward to a long and mutually beneficial relationship between TASE and the Toronto Stock Exchange."

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