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Saturday November 4, 11:54 AMLondon Stock Exchange eyes partnership with Tokyo: report
A senior LSE official presented the plan during a visit to the Tokyo Stock Exchange last month, the the Nihon Keizai Shimbun said. The proposal also calls for the exchanges to jointly develop a stock-trading system and take measures to stimulate start-up markets, the business daily said. "Through the operational alliance, we hope to spur both markets," an LSE official told the daily, adding that capital ties are not under consideration at present. The TSE, which is also in partnership talks with the New York Stock Exchange, has agreed to consider the proposal, the newspaper said. Taizo Nishimuro, head of the TSE, said last week the bourse was open to tie-up talks with any global counterpart, stressing that a proposed alliance with the New York Stock Exchange was not exclusive. World stock exchange operators are linking arms to facilitate easier cross-border trading while boosting their own competitiveness. In June, the NYSE announced a 10-billion-dollar merger with pan-European exchange operator Euronext to create the world's first intercontinental market, and it has now opened talks with Asia's largest bourse. |
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