Published On: Fri, Dec 9th, 2011

KRX and TSE Strengthen Relationship

On December 9, Tokyo Stock Exchange Group, Inc. (“TSE Group”) and Korea Exchange (“KRX”) signed a Memorandum of Understanding (“MOU”) to further strengthen the cooperative relationship between both exchanges.

Based on this MOU, TSE Group and KRX have made the prices of stocks listed on both exchanges mutually available on their websites in order to promote greater capital circulation between the two markets. In addition to this, the exchanges will begin discussions regarding the development of infrastructure to facilitate more convenient order placement and market information acquisition by participants in both markets. Furthermore, TSE Group and KRX will examine methods to promote mutual-listing of ETFs and shared derivatives products, while also pursuing the creation of highly convenient trading environments and cost reductions through cooperative study of IT systems, which form the foundation of the exchange business. In advancing these initiatives, TSE Group and KRX will engage in medium-to-long term staff exchange in order to establish a thorough deliberation structure, and facilitate prompt implementation.

Atsushi Saito, President and CEO of TSE Group, said “Both our exchanges have worked hard to cultivate their positions as leaders in Asia. By further strengthening our relationship and concentrating our expertise to implement a diverse range of measures, we will be able to improve market access and promote understanding on both markets by all our market participants, and invigorate the capital circulation between Japan and Korea. We are confident that this will contribute to the future development of both our markets.”

Bongsoo Kim, Chairman and CEO of KRX, commented “In the rapidly evolving global exchange environment, cooperation and coordination between global exchanges are becoming increasingly important as a strategy toward growth and survival. In particular, our cooperative agreement with TSE Group will expand capital flow between our countries through the creation of a leading capital market network in Asia and enhance the competitiveness of both our markets. We look forward to the boost that this relationship will provide to inter-regional exchange cooperation. ”

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