New York Stock Exchange And Shanghai Stock Exchange Sign Memorandum Of Understanding

The New York Stock Exchange (NYSE) and the Shanghai Stock Exchange (SSE) today signed a memorandum of understanding (MOU) in which the two exchanges agreed to further increase the cooperation and communication between both markets.

Under the terms of the MOU, the two exchanges agreed to share information with a view to further the development of both markets, assist each other in the maintenance of orderly markets, and facilitate channels of communication. The MOU also establishes a mechanism for the exchange of staff between both organizations.

"This arrangement formalizes our cooperative relationship with the Shangai Stock Exchange," said NYSE President, Co-Chief Operating Officer and Executive Vice Chairman Robert G. Britz. "It further advances the development of both markets and we look forward to advancing our partnership with the Shanghai Stock Exchange and the many outstanding listed companies from China to the benefit of investors and the financial-services industry in China and the U.S."

"We are very pleased that the SSE and the NYSE have agreed to cooperate and communicate with each other in a more formal way," said Shanghai Stock Exchange Chairman Liang Geng. We highly value our partnership with the NYSE, the world's leading equities market. This MOU enhances the international standing of the Shanghai Stock Exchange with global investors, and we look forward to extending our relationship with the NYSE."