Alliances
The London Stock Exchange (LSE) and the TSE are developing jointly traded products and share technology, marking the latest cross-border deal among bourses as international competition heats up. The TSE is also looking for some partners in Asia, and more specifically is seeking an alliance with the Singapore Exchange (SGX), which is considered as becoming a leading financial hub in the Asia-Pacific region. Recently, some rumors close to the deal suggest that the TSE is preparing for a takeover of the SGX, or at least take a major stake, in the first semester of 2008. The TSE has already acquired a 5% stake in the SGX as of June 2007, deemed to be only the beginning of greater participation.
In July 2008 the London Stock Exchange (LSE) and the TSE announced a new joint venture Tokyo-based market, which will be based on the LSE's Alternative Investment Market (AIM).
Read more about this topic: Tokyo Stock Exchange
Famous quotes containing the word alliances:
“Peace, commerce and honest friendship with all nations; entangling alliances with none.”
—Thomas Jefferson (1743–1826)
“’Tis our true policy to steer clear of permanent alliances with any portion of the foreign world.”
—George Washington (1732–1799)
“An alliance is like a chain. It is not made stronger by adding weak links to it. A great power like the United States gains no advantage and it loses prestige by offering, indeed peddling, its alliances to all and sundry. An alliance should be hard diplomatic currency, valuable and hard to get, and not inflationary paper from the mimeograph machine in the State Department.”
—Walter Lippmann (1889–1974)