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Raymundo Magliano Filho, President of BOVESPA and Richard Nesbitt, CEO of TSX Group announced today that the Sao Paulo-based stock exchange and both TSX and TSX Venture Exchange have signed a memorandum of understanding to strengthen ties between the Brazilian and Canadian securities markets.
"The opportunity to strengthen ties with Toronto Stock Exchange and TSX Venture Exchange is important to BOVESPA at this time, as we are striving to promote the Brazilian market abroad," he said.
TSX Chief Executive Officer Richard Nesbitt added, "We look forward to working closer with BOVESPA to seek greater opportunities for issuers from both countries to expand their reach and shareholder base."
Mr. Nesbitt is in Sao Paulo to attend the annual General Assembly of the World Federation of Exchanges, which is being hosted by BOVESPA.
The MOU is aiming at promoting broader cooperation, exchange of information and an ongoing relationship between the exchanges in order to facilitate the interlisting of issuers between all three exchanges. The MOU is an initiative which favours collaborations and developments together that will contribute to the strengthening of both markets.
With that initiative BOVESPA, Toronto Stock Exchange and TSX Venture Exchange pave the way for the future and developments of both markets.
