NYSE, Tokyo bourse to announce alliance
Afp, New York
The New York Stock Exchange and the Tokyo Stock Exchange, the world's top two equity markets, were set to unveil a strategic alliance Wednesday spanning three continents and the world's largest economies. NYSE chief executive John Thain and TSE head Taizo Nishimuro will hold a briefing in New York at 8:30 am (1330 GMT) "to announce the strategic alliance between the world's financial market leaders," an NYSE statement announced. Nishimuro told reporters in New York Tuesday that the two bourses were "very close" to reaching an agreement on an alliance, Kyodo News reported. Asked about the benefits of a partnership, Nishimuro said the "biggest merit will be that the alliance will make it easier for users to use the bourses through an increased variety of products and information. "We can say that (a0 global alliance between stock exchanges is an inevitable trend," Nishimuro said during a forum, the news agency reported. In June, the NYSE announced a 10-billion-dollar merger with pan-European exchange operator Euronext to create the world's first intercontinental market.
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