JERUSALEM (JTA) — The Tel Aviv and Toronto stock exchanges formalized cooperation between the markets.
The exchanges signed a Memorandum of Understanding Wednesday before the opening bell ceremony at the Tel Aviv Stock Exchange.
Under the agreement, the exchanges will work to broaden relations between them by developing channels of communication; advancing opportunities for cross listing; supporting the respective regulatory authorities to develop a mutual recognition agreement; exploring the development and listing of financial instruments tracking the other’s market indices; and initiating joint conferences.
The Tel Aviv Stock Exchange has signed five such memorandums, including with the Nasdaq and the New York Stock Exchange-Euronext.
To mark the signing of the memorandum, officials from both exchanges took part in Wednesday’s opening bell ceremony at the Tel Aviv exchange.