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Tokyo, Abu Dhabi exchanges sign deal

Abu Dhabi, January 18, 2008

The Tokyo Stock Exchange and the Abu Dhabi Securities Market yesterday signed a deal for a future tie-up as competition heats up among major bourses.

Under the memorandum of understanding, the two markets will study areas of co-operation in a bid to expand trade at both bourses, the Japanese market said.

"I sincerely hope that this deal would further develop both markets," Tokyo Stock Exchange chief executive officer Atsushi Saito said.

Officials at the Abu Dhabi market said the agreement should improve services and help diversify risks for investors who are considering investing at either market, while contributing to the long-term stability of both.

The agreement came as the Tokyo Stock Exchange hurries to form alliances with other major markets to fend off competition from regional rivals, such as bourses in Singapore, Hong Kong and Shanghai. - Reuters




Tags: Stock | ADSM | Tokyo |

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