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Tokyo Stock Exchange Group, Inc. (TSE Group) signed a Memorandum of Understanding (MOU) with the Abu Dhabi Securities Market (ADSM) today.
Under the terms of the MOU, both exchanges agreed to foster a closer relationship exploring possibilities for collaboration on cross-border investment in such areas as the development and listing of financial products, and to contribute to the growth of securities markets in both the United Arab Emirates and Japan. This is the first MOU that the TSE Group has signed with a Middle Eastern market.
"We are very happy to have a new friend from the Middle East," said Mr. Atsushi Saito, the President and CEO of the TSE Group. "We look forward to creating potential opportunities of mutual cooperation between our two exchanges, and hopefully the MOU will further advance the development of both markets."
Mr. Rashed Abdulkareem Al Baloushi, Deputy Director General of ADSM said, "this MOU will encourage, facilitate, and open channels for the companies and investors from both countries in looking at investment opportunities eliminating by this any obstacles that could exist and will create more diverse investment opportunities, allowing investors to spread their risks, contributing to long-term market stability and ultimately furthering economic growth."
About Tokyo Stock Exchange Group, Inc.
Tokyo Stock Exchange Group, Inc. (TSE Group) is one of the leading global exchanges and the largest securities market in the Asia-Pacific region. The TSE Group is best known for its equities market, valued at US$4.2 trillion as of the end of 2007. It also boasts the largest market for Japanese securities derivatives such as Japanese Government Bond (JGB) and TOPIX (Tokyo Stock Price Index) futures.
About the Abu Dhabi Securities Market:
Established in November 2000, Abu Dhabi Securities Market is the largest stock exchange in the UAE in terms of number of listed companies. It has 66 listed securities with a market capitalization of over US$121 billion, as of the end of December 2007.
