New York, Tokyo Exchanges Close to Agreement: WSJ

The Tokyo and New York stock exchanges are in the final stages of alliance talks and may come to an agreement as soon as the end of the month, The Wall Street Journal reported on Wednesday, citing the head of the Tokyo exchange.

Taizo Nishimuro, president of Tokyo Stock Exchange, said the two exchanges may make an announcement on their tie-up details after a planned two-day trip to New York starting next Tuesday, the WSJ reported.

The TSE and the New York Stock Exchange, operated by NYSE Group , have not officially decided whether to announce the details of their proposed alliance, Nishimuro said at a news conference, but later said there is "above a 50%" chance that they will, the paper reported.

A spokesman for the NYSE could not immediately be reached for comment.