The Taiwan Stock Exchange Corporation (TWSE) has signed a memorandum of understanding (MoU) with Nasdaq Inc. (Nasdaq:NDAQ) to foster closer cooperation between the two companies in connection with expanding their markets and cross-promoting their products and services.
The TWSE already (JPX) and this move will help it to enhance its services and offer its products at one of the top exchanges in the US.
Mr. Chi-Hsien Lee, President of TWSE, said: “We are pleased to have formalized our relationship with Nasdaq and we are excited about the opportunities ahead. As Taiwan adopts a global outlook on capital markets, the Taiwan Stock Exchange has been proactive in building alliances with overseas exchanges. We look forward to collaborating together for the development of both our institutions and the wider financial services industry.”
Both companies will also help each other in the compilation of indices and they will benefit by sharing market data, which will allow them to offer better products and services.
It will also allow NASDAQ and TWSE to access clients and customers across the globe.
The MoU allows for the cross-listing of ETFs on both markets. The companies hope to tap the growing ETF market in their respective regions in order to boost their trading volumes.
At the same time, customers of the respective exchanges will have a wider choice of products to invest in.
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