The Tokyo Stock Exchange (TSE) is set to sign a memorandum of understanding with the Vienna Stock Exchange that will pave the way for the mutual listing of exchange traded funds (ETFs), according to a report by the Nikkei news service. The TSE hopes to take advantage of the Vienna Stock Exchange’s strong ties with Central and Eastern European nations by listing ETFS linked to the stock exchanges of such nations as Croatia, Romania and Bulgaria, according to the report.
“The Tokyo Stock Exchange is set to sign a memorandum of understanding with the Vienna Stock Exchange that will pave the way for the mutual listing of exchange traded funds (ETFs),” says Masaaki Yamaguchi, senior vice president, Mizuho Corporate Bank, Ltd.
The news follows the listing on the Korea Exchange of the KODEX Japan ETF in February 2008. The listing was a direct result of a cooperative agreement signed between the two exchanges in July 2006.
In a magazine interview on 10 July, Atsushi Saito, the president and CEO of the Tokyo Stock Exchange Group, said that the TSE has been negotiating with a number of US and European exchanges to get their ETFs listed in Tokyo, and that the response has been positive.