NYSE Euronext and Tokyo Stock Exchange to Explore Network Linkage
02 Marzo 2011 - 1:00AM
Business Wire
Atsushi Saito, President and CEO of the Tokyo Stock Exchange
(TSE), and Duncan Niederauer, CEO of NYSE Euronext (NYX), today met
in New York to sign a letter of intent to identify options to give
customers of each exchange accessibility to the other’s markets
through a network linkage.
NYSE Euronext and Tokyo Stock Exchange
Sign Letter of Intent for Network Linkage - Atsushi Saito,
President and CEO of the Tokyo Stock Exchange (TSE), and Duncan
Niederauer, CEO of NYSE Euronext (NYX), at the New York Stock
Exchange on Tuesday, March 1 sign a letter of intent to identify
options to give customers of each exchange accessibility to the
other's markets through a network linkage. (Photo: NYSE
Euronext/Ben Hider)
The Secure Financial Transaction Infrastructure (SFTI®) hub,
being planned by NYSE Euronext and “arrownetTM,” TSE’s trading and
information network, will play an important role in the
consideration of options for establishing a network linkage between
the markets. Using “arrownetTM,” customers of the TSE would be able
to access NYSE Euronext markets without costly dedicated network
connections. Similarly, NYSE Euronext customers who use SFTI would
be able to access TSE markets with their existing infrastructure.
Customers of both exchanges could take advantage of this
multi-functional network to translate order formats and so avoid
the need for costly development work. Market data would also be
available over the network. Both parties would also explore the
potential of jointly expanding the network linkage to Asia, which
would enable investors to more easily trade cross-borders and
globally.
This latest agreement builds on the existing relationship
between TSE and NYSE Euronext which dates back to 1987, when
Japanese Government bond futures were launched on the LIFFE market
in London. Recently, NYSE LIFFE has listed futures on the TOPIX
index, under license from the TSE, and there is a clearing link in
place for the daily transfer of open positions from NYSE LIFFE to
TSE. In October 2009 TSE activated its options market trading
platform, the Tdex+ System, which is powered by NYSE Euronext's
LIFFE CONNECT® technology, and the TSE will migrate its futures
market to the platform in the 4th quarter of 2011.
In acknowledging the letter of intent between the two exchanges,
Duncan Niederauer said: “We are privileged to host Saito-san today
in New York and welcome the opportunity to move forward with this
new initiative aimed at delivering new services and value to our
respective customers. Our collective goal is to leverage our
technology and expertise to create a global trading community with
direct access to the world’s foremost markets. Bringing more
innovative products to our customers and more customers to our
products will be to everyone’s advantage.”
Atsushi Saito said: “I am very pleased with the signing of the
letter of intent with NYSE Euronext. TSE has been enjoying a
partnership with NYSE Euronext in many aspects, and I am excited
about taking another initiative for a new service with our
cutting-edge technologies. “arrownetTM” is TSE’s highly reliable
and robust trading and information network. By connecting with NYSE
Euronext’s SFTI network, “arrownetTM” will give the investors of
Europe and US more opportunities for investment in Asia, and at the
same time, Asian markets will have exposure to capital outside of
the region. TSE is proud to build this bridge between the
continents, and hope that this will consolidate our position as a
hub exchange in Asia.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial
markets and provider of innovative trading technologies. The
company's exchanges in Europe and the United States trade equities,
futures, options, fixed-income and exchange-traded products. With
approximately 8,000 listed issues (excluding European Structured
Products), NYSE Euronext’s equities markets – the New York Stock
Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca –
represent one-third of the world's equities trading, the most
liquidity of any global exchange group. NYSE Euronext also operates
NYSE Liffe, one of the leading European derivatives businesses and
the world's second-largest derivatives business by value of
trading. The company offers comprehensive commercial technology,
connectivity and market data products and services through NYSE
Technologies. NYSE Euronext is in the S&P 500 index, and is the
only exchange operator in the S&P 100 index and Fortune 500.
For more information, please visit: http://www.nyx.com.
About Tokyo Stock Exchange
Tokyo Stock Exchange, Inc. (TSE) is one of the leading global
exchanges and the largest securities market in the Asia-Pacific
region. TSE is best known for its equities market, valued at US$3.8
trillion as of the end of January 2011. It also boasts the largest
market for Japanese securities derivatives such as Japanese
Government Bond (JGB) and TOPIX (Tokyo Stock Price Index) futures.
For more information, please visit:
http://www.tse.or.jp/english/index.html
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements,
including forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, but are not limited to,
statements concerning NYSE Euronext’s plans, objectives,
expectations and intentions and other statements that are not
historical or current facts. Forward-looking statements are based
on NYSE Euronext’s current expectations and involve risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in such forward-looking statements.
Factors that could cause NYSE Euronext’s results to differ
materially from current expectations include, but are not limited
to: NYSE Euronext’s ability to implement its strategic initiatives,
economic, political and market conditions and fluctuations,
government and industry regulation, interest rate risk and U.S. and
global competition, and other factors detailed in NYSE Euronext’s
reference document for 2009 ("document de référence") filed with
the French Autorité des Marchés Financiers (Filed on April 22, 2010
under No. D.10-0304), 2009 Annual Report on Form 10-K and other
periodic reports filed with the U.S. Securities and Exchange
Commission or the French Autorité des Marchés Financiers. In
addition, these statements are based on a number of assumptions
that are subject to change. Accordingly, actual results may be
materially higher or lower than those projected. The inclusion of
such projections herein should not be regarded as a representation
by NYSE Euronext that the projections will prove to be correct.
This press release speaks only as of this date. NYSE Euronext
disclaims any duty to update the information herein.
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