The Taiwan Stock Exchange Corporation and Nasdaq Inc. have signed a Memorandum of Understanding (MoU) to promote mutual development and foster cooperation between the two companies. The memorandum also paves the way for both sides to work closely together in expanding their ETF markets, facilitating the cross-listing of ETFs on both the TWSE and Nasdaq markets.
"We are pleased to have formalized our relationship with Nasdaq and we are excited about the opportunities ahead," said Mr. Chi-Hsien Lee, President of TWSE. "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."
Nasdaq and TWSE will collaborate in mutual market promotion and the compilation of indices. The MoU will also help create closer ties between the Taiwanese and U.S. capital markets, with initiatives such as bilateral visits, personnel training and exchanges to share experience and information.
"This memorandum has laid the groundwork for valuable and rewarding cooperation between TWSE and Nasdaq," said Mr. Sandy Frucher, Vice Chairman at Nasdaq. "Our goal is to strengthen our relationship further with one of Asia's leading exchanges. We look forward to the opportunities and overall mutual benefits with partnering with TWSE."