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On 15 October 2006, Mr Jean-François Théodore, Chairman of the Managing Board and CEO of Euronext NV, and Dr Gordon S. Chen, Chairman of the Taiwan Stock Exchange Corp. (TSEC), signed a Memorandum of Understanding (MOU) during the Annual Meeting of the World Federation of Exchanges in Sao Paulo (Brazil).
This MOU, which follows the Letter Of Intent (LOI) executed between the two exchanges one year ago, aims at further strengthening channels of cooperation between Euronext and the Taiwan Stock Exchange for their mutual market development.
It defines the framework for relationships between the two exchanges and subjects of mutual benefit to Euronext and Taiwan Stock Exchange, as well as information to be shared.
In particular, Euronext and the Taiwan Stock Exchange will be studying the feasibility of distributing each other’s products in their respective markets. They will also share information on products and services, the financial environment, regulations and policies applying to their markets and information technology. To this end, regular meetings will be held at executive level and joint research projects or seminars will be organized on topics of common interest.
Euronext and Taiwan Stock Exchange may envisage closer cooperation in other areas to be agreed upon in the future.
About EuronextEuronext, the first pan-European exchange, results from the September 2000 merger of equity and derivatives markets in Amsterdam, Brussels and Paris. BVLP, the Portuguese exchange and LIFFE, the international derivatives exchange, joined Euronext in 2002. Euronext offers services that include listing of financial instruments, trading in securities and derivatives, data dissemination and IT support. Measured by value and number of trades processed through its central order book, Euronext is the largest cash equity market in Europe. Euronext.liffe, the derivatives business of Euronext, is Europe's second largest derivatives exchange by volume and the value of listings.
About Taiwan Stock Exchange Corp.
Taiwan Stock Exchange Corp. is the major equity market in Taiwan. In 2006, 687 companies were listed on the Taiwan Stock Exchange Corporation (TSEC). Market capitalization totalled US$ 506.19 billion. The average daily trading value is around US$ 2.31 billion. TSEC is among the most liquid markets in the world. Options on TAIEX, the all-ordinary index of the TSEC, rank number three in the world in terms of trading volume. TTT Fund, the first ETF in Taiwan that tracks TSEC Taiwan 50 index, our blue-chip index, is ranked number six globally by Morgan Stanley in terms of asset under management. http://www.tse.com.tw
