Seoul, Korea - NASDAQ and the Shenzhen Stock Exchange (SZSE) signed a memorandum of understanding at the World Federation of Exchanges' annual General Assembly in Seoul to strengthen cooperation and promote mutual development between the two exchange companies.
SZSE's Chairman Wu Lijun, Nasdaq's Vice Chairman Sandy Frucher, and Executive Vice President and Head of Market Technology Lars Ottersgård were present at the signing ceremony.
"This MOU marks a breakthrough in the cooperation between Nasdaq and SZSE," said Mr. Lijun. "Against the backdrop of economic transition and upgrades in China, the Chinese capital market offers historic opportunities for product introduction and system innovation. This paves the way for in-depth cooperation between the exchanges in areas including linking-up IT systems and index-based products. As we connect and leverage the advantages of both markets, we look forward to constructive development through our mutual cooperation."
According to the MOU, SZSE and Nasdaq will explore extensive collaborative opportunities regarding information sharing, market link-up (including potential cross listing of index products), mutual assistance, link-up of IT systems and R&D initiatives.
"Nasdaq is honored to sign this new collaborative agreement with SZSE," said Mr. Frucher. "Our goal is to strengthen our relationship further with one of China's leading exchanges. We look forward to the opportunities and overall mutual benefits with partnering with SZSE."