Sunday, February 04, 2007
NYSE and Tokyo Stock Exchange Establish Alliance
Last week, the NYSE and the Tokyo Stock Exchange announced that they had entered into a strategic alliance "to jointly develop and explore new opportunities in trading systems and technology, investor and issuer services, investment products, and governance and regulation." The press release is here.
Working groups will begin to meet regularly regarding each of these areas of interest. From the international corporate governance perspective, the measures that will be taken to assure that issuers who list on one exchange "have improved access to investors in the other" is critical. This is one more example of the mechanisms of convergence that is occurring with respect to international corporate governance issues.