The New York Stock Exchange (NYSE) and Tokyo Stock Exchange (TSE) have joined forces to support cross-border investment between the US and Japan.

In order to ‘invigorate’ cross-border investment between the two countries and develop their capital markets, the two exchanges have agreed to work together in three key areas.

  1. The development of investment products
  2. Marketing activities targeted at US and Japanese investors
  3. The exchange of information on sustainability, the use of digital technologies, market operations and other topics.

The two exchanges finalised their agreement during a visit to the NYSE by Japanese Prime Minister Fumio Kishida.

Lynn Martin, NYSE president, said the agreement represents an important evolution in the longstanding relationship between the exchanges as well as supporting cross-border investment between two of the world’s leading economies.

“Prime Minister Kishida’s participation in the signing of this agreement during his visit to the NYSE underscores the importance of our capital markets and the critical role that public companies play in the lives of the citizens of both nations,” said Martin. “We are excited to be expanding our relationship with the Tokyo Stock Exchange and look forward to working together for years to come.”

Hiromi Yamaji, president & CEO at Tokyo Stock Exchange, added: “In recent years, expectations for exchanges, which play a fundamental role in capital markets, have been increasing in the areas of sustainability and fintech.

“By further strengthening and advancing our cooperative relationship with the NYSE, the largest exchange in the world, we hope to enhance the diversity of investment products on both exchanges and strengthen cooperation on information dissemination, thereby meeting the expectations of investors and other stakeholders.”

The NYSE and TSE signed an agreement of cooperation in February 2000 and also established a strategic alliance in January 2007. The two exchanges have now agreed to strengthen and further advance their relationship to promote and support the development of both exchanges’ businesses.

Yamaji adds: “Through this collaboration with the NYSE, Japan Exchange Group and TSE will continue to contribute to further development of the capital markets in both Japan and the US in their role as a fundamental capital market infrastructure.”

Image and article originally from thefintechtimes.com. Read the original article here.