The Tokyo Stock Exchange (TSE) has received a proposal from the New York Stock Exchange (NYSE) in which a capital and operational tie-up has been offered. TSE says that it is now studying a range of topics including cross-shareholdings between the two exchanges, mutual listing of shares and establishing a new stock market for Asian companies.
The overture made by NYSE says that it aims to from an alliance with a 10 picture cross-shareholding at the center, by the end of 2009.
“Currently TSE is working on a couple of issues, such as revision of the IT master plan including constructing the next-generation system,” says a spokesman for TSE. “It is also reviewing its organisation structure with the listing of TSE, by the end of 2009, in sight.”