MOU Signing Between Japan Securities Settlement & Custody, Inc. And China Securities Depository And Clearing Corporation Limited To Mutual Cooperation For Securities Settlement

Japan Securities Settlement & Custody, Inc. (JSSC), a subsidiary of Tokyo Stock Exchange, Inc. (TSE), and China Securities Depository and Clearing Corporation Limited (SD&C) signed a Memorandum of Understanding (MOU) on October 30, 2003 to establish cooperative ties between the two securities deposit and settlement organizations.

Under the MOU, JSSC and SD&C have agreed to make best cooperative efforts to 1) cooperate in operation and operational linkages, 2) exchange personnel and information on training programs, and 3) exchange information to improve securities settlement systems.

"I'm sure that the MOU will contribute to stronger cooperative ties between SD&C and JSSC toward better securities clearing and settlement systems, which will ultimately help us build the necessary infrastructure for securities settlement between China and Japan," said Toshitsugu Shimizu, President & CEO of JSSC.

"The MOU will further facilitate the information and personnel exchanges between SD&C and JSSC, and lay a good foundation for our further cooperation." Said Jin Ying, CEO of SD&C.