Tokyo, London bourses set to sign alliance Friday: sources

0 Comments | AFP, February, 2007

TOKYO (AFP) — The Tokyo and London stock exchanges are set to sign a business alliance on Friday as part of a global race for consolidation among the world's top bourses, informed sources said Thursday.

Tokyo Stock Exchange president Taizo Nishimuro has left for the British capital where he is expected to sign the agreement with London Stock Exchange chairman Chris Gibson-Smith, the sources said on condition of anonymity.

The alliance will facilitate reciprocal listings of exchange-traded funds as well as information-sharing on trading systems, the sources said, confirming an earlier report in the Nikkei business daily.

The move is part of efforts by the TSE, Asia's largest bourse, to step up global alliances in the aim of fending off fast-growing regional...