NASDAQ and Shanghai Stock Exchange Sign a Memorandum of Understanding
24 Oct 2006
Mumbai: NASDAQ Stock Market LLC and the Shanghai Stock Exchange (SSE) have signed a MoU to develop channels of communications for sharing information between the two markets. This will benefit investors in the US and China.
Adena Friedman, executive vice president, corporate strategy, NASDAQ, explains the logic for the tie-up, "Since its foundation in 1990 the SSE has made impressive inroads in its technology and development. By increasing the lines of communication between the two exchanges, we expect this agreement to benefit market participants and the financial services industry in the US and the People's Republic of China."
NASDAQ currently lists 29 Chinese companies with a combined global market cap of approximately $20.1 billion.
