The two Exchanges entered into this agreement as the first step to further strengthen effective relationships between the two capital markets. The Exchanges agree to consult and cooperate on issues of mutual interest, and to exchange information deemed beneficial to maintain the efficiency and integrity of the two markets.
Mr Jean-François Théodore, chairman of the Managing Board and CEO of Euronext remarks, ' Euronext is very pleased to sign a cooperation agreement with the Tokyo Stock Exchange which will strengthen the links between our two markets and which will give a common framework to explore matters of common interest. We warmly welcome this new step in our relationships with the TSE. '
Mr Masaaki Tsuchida, President & CEO of Tokyo Stock Exchange, comments 'This MOU is an opportunity to further strengthen the already good relations between our Exchanges, and to work for the development of both markets. I firmly believe the two Exchanges can work together to enhance the cross-border flow of capital between Europe and Asia.'
About Euronext:
Euronext (www.euronext.com) was formed by the merger of the Amsterdam, Brussels and Paris cash and derivatives exchanges in September 2000. The Euronext Group has since grown further, adding BVLP (the Portuguese cash and derivatives exchange) and LIFFE (The London International Financial Futures and Options Exchange). The derivatives businesses of Euronext and LIFFE are being combined under Euronext.liffe umbrella. As of 30 June 2002, 1545 companies were listed on Euronext regulated markets representing a market capitalization of EUR 1866 billion. In 2002 volumes traded on the central order book have amounted to EUR 830 billion with which 353 million futures and options contracts makes Euronext the largest exchange in Europe.
About the Tokyo Stock Exchange:
Tokyo Stock Exchange, Inc. (www.tse.or.jp) is the premier exchange of Japanese cash equities and derivative products both in Japan and from a global perspective. The stock trading volume of TSE in 2001 boasted 204 billion shares, an increase of 17 percent from the previous year, which positioned the TSE as the central market of Japan, occupying 93.6 percent of the total volume of stock trading in Japan. In 2001, the TSE also recorded the daily average of trading volume of 829.4 million shares, and the daily average of trading value of JPY 822.2 billion. At the end of April 2002, the number of listed Japanese companies is 2,119, and their market capitalization reaches JPY 314.9 trillion. In order to meet diversified needs of investors, the TSE started trading of ETFs and REITs in last July and September, respectively. In addition, the TSE currently offers trading and clearing of Japanese government bond (JGB) futures and options, Japanese stock index futures and options, and individual equity options. With respect to these cash and derivative products, the TSE, as an SRO, continuously makes every effort for providing a fair, transparent, and efficient market.
