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LONDON (AP) - The London and Tokyo stock exchanges announced plans Friday to develop jointly traded products and share technology, marking the latest cross-border deal between stock market operators as international competition heats up.
The London Stock Exchange PLC, which has fended off several takeover attempts in the past few years including two failed approaches from the Nasdaq Stock Exchange Inc., said the agreement is eventually aimed at providing round-the-clock trading.
"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," said Chris Gibson-Smith, chairman of the London exchange.
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