LONDON: The London Stock Exchange said on Friday it had agreed with the Tokyo Stock Exchange to work together to develop new business, with an eye toward developing a round-the-clock trading system.

In the first such agreement between the exchanges, the LSE said the two bodies would begin a series of regular meetings to consider development opportunities.

Areas for immediate consideration include the operation and regulation of markets for growth companies, the creation and promotion of jointly traded products and ways to encourage access by member firms to each other's markets with the eventual aim of providing a 24-hour trading environment.

"The Tokyo Stock Exchange is an immensely important global market, and we see our co-operation agreement with it as an exciting opportunity to broaden the scope of the services that we are able to offer issuers, investors and member firms,'' Chris Gibson-Smith, Chairman of the London Stock Exchange, said.

Taizo Nishimuro, President and CEO of the Tokyo Stock Exchange, said: "Taking into consideration the environment surrounding market operators, it is critical for us to explore the possibility of satisfying our exchange's various stakeholders.'' — AP

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