SEOUL, South Korea, Oct. 29, 2014 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq:NDAQ) and Shenzhen Stock Exchange (SZSE) signed a memorandum of understanding (MOU) at the World Federation of Exchanges' annual General Assembly to strengthen cooperation and promote mutual development between the two exchange companies. SZSE's Chairman, as well as Nasdaq's Vice Chairman Sandy Frucher and Executive Vice President and Head of Market Technology Lars Ottersgård were present at the signing ceremony.
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"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."
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com.
About Shenzhen Stock Exchange
The Shenzhen Stock Exchange operates a multi-tiered capital market to facilitate fund-raising for companies of different sizes and at different stages of growth. It now lists 1,595 companies, with 480 on the Main Board, 723 on the SME Board and 392 on the ChiNext Market. The total market capitalization of listed companies was valued at US$1.9 trillion. The SZSE has initiated asset-backed securities for infrastructure projects and microloan companies in support of the real economy. The SZSE also created a private placement bond market for unlisted SMEs. The SZSE also operates an all-in-one information disclosure and investor education portal, integrating all corporate disclosure documents, a mock trading system, analytical tools and interactive dialogues with corporate executives. To learn more, please visit www.szse.cn/main/en for general information and http://irm.cninfo.com.cn/szse/ for interactive corporate disclosure and investor relation services.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
Source:The NASDAQ OMX Group, Inc.