Korea Exchange And Tokyo Stock Exchange Sign Memorandum Of Intent On Cross Listing

Korea Exchange (KRX) and Tokyo Stock Exchange (TSE) signed the Memorandum of Intent on the possibility of business alliance for cross listing between the two exchanges on August 30, 2005.

Cross listing allows members of the partner exchange to access the market of the other exchange by linking the trading systems of the two exchanges.

The MOI is a strategic decision for KRX to proactively respond to changes in the global stock market environment in light of accelerating efforts among exchanges toward alliance.

KRX expects this MOI to help speed up its efforts to build alliance with other markets in Asia.

KRX plans to hold a working-level meeting between staffs of the two exchanges on August 8~9, 2005 in the Busan headquarters to discuss the proposed alliance.