EconomyTaipei, Tokyo bourses sign cooperation pact GreTai Chairman Gordon Shuh Chen (right) and TSE President Atsushi Saito are all smiles at the memorandum of understanding signing ceremony May 24 in Tokyo. (Courtesy of GreTai)
Taipei-based GreTai Securities Market and the Tokyo Stock Exchange Group Inc. signed a memorandum of understanding May 24 in the Japanese capital, paving ways for closer collaboration between two of Asia’s most vibrant securities markets. Concluded by GreTai Chairman Gordon Shuh Chen and TSE President Atsushi Saito, the tie-up will establish a long-term cooperation platform for the bourses in information sharing, market and product development, and personnel exchanges. “The Tokyo exchange is one of the world’s leading securities markets, while the GreTai is a dynamic bourse with diversified products and active trading,” Chen said. “The alliance enables both parties to leverage respective strengths and promote further exchanges between regional operators.” Saito said the GreTai is a promising market boasting numerous top growth startups and high-volume bond trading. “The agreement will strengthen relations between the partners and encourage more Taiwanese firms to utilize the TSE for fundraising,” he added. According to latest GreTai statistics, the number of firms listed on its over-the-counter market stands at 618, with total market capitalization reaching NT$1.63 trillion (US$55 billion). The TSE has 2,200 listings and was valued at US$3.5 trillion as of April. Analysts view the move as part of the GreTai’s ongoing drive to enhance management know-how and develop fresh fields through partnering with major players in capital markets worldwide. The GreTai signed memorandums with the Bursa Malaysia, Hanoi Stock Exchange and Singapore Exchange in May 2010, July 2010 and November 2009, respectively. It also became a full member of the Paris-based World Federation of Exchanges in October last year. (JSM) Write to Meg Chang at sfchang@mail.mofa.gov.tw |
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