Responding to the continuing surge in global trading and investment, the agreement aims to further improve the fairness and transparency of both markets. TSE and NYSE signed an agreement for comprehensive cooperation in February 2000, and have built a strong relationship in recent years. This information sharing partnership will build on that relationship and further increase the close cooperation between the two organizations, including the exchange of know-how at staff level.
Under the terms of the agreement, TSE and NYSE can ask each other to provide information or documents relating to financial instruments traded on their respective exchanges, and information relating to members and trading participants on the exchanges. The information can be used only for the purpose of market surveillance or investigative activities. Both stock exchanges will also proactively support and promote efforts towards the international harmonization of market surveillance regulations and standards, as well as international cooperation among other relevant organizations.
"It is very significant that the TSE and the NYSE have agreed to cooperate with each other for their market surveillance activities. I highly value our partnership with the NYSE and closer communication between the two exchanges. As the representative exchanges of Japan and U.S. aiming for further international development of securities markets, we will work as leaders to harmonize securities systems around the world," said Mr. Masaaki Tsuchida, President and CEO of TSE.
"The New York Stock Exchange is pleased that, in the spirit of our overall agreement with the TSE signed in 2000, we are moving to the next level of cooperation. This is one more example of our strong working relationship with the TSE," said NYSE Chairman & CEO Dick Grasso.
