Exchange
SAO PAULO, Brazil, Oct. 17 /-FirstCall/ - Raymundo Magliano Filho, President of BOVESPA and Richard Nesbitt, CEO of TSX Group announced today that the Sao Paulo-based stock exchange and both TSX and TSX Venture Exchange have signed a memorandum of understanding to strengthen ties between the Brazilian and Canadian securities markets.
"The opportunity to strengthen ties with Toronto Stock Exchange and TSX Venture Exchange is important to BOVESPA at this time, as we are striving to promote the Brazilian market abroad," he said.
TSX Chief Executive Officer Richard Nesbitt added, "We look forward to working closer with BOVESPA to seek greater opportunities for issuers from both countries to expand their reach and shareholder base."
Mr. Nesbitt is in Sao Paulo to attend the annual General Assembly of the World Federation of Exchanges, which is being hosted by BOVESPA.
The MOU is aiming at promoting broader cooperation, exchange of information and an ongoing relationship between the exchanges in order to facilitate the interlisting of issuers between all three exchanges. The MOU is an initiative which favours collaborations and developments together that will contribute to the strengthening of both markets.
With that initiative BOVESPA, Toronto Stock Exchange and TSX Venture Exchange pave the way for the future and developments of both markets.
About TSX Group Inc. (TSX-X)
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TSX Group operates Canada's two national stock exchanges, Toronto Stock Exchange serving the senior equity market and TSX Venture Exchange serving the public venture equity market as well as Natural Gas Exchange (NGX), a leading North American exchange for the trading and clearing of natural gas and electricity contracts. TSX are the initials attached to the core equity operations of TSX Group (http://www.tsx.com): Toronto Stock Exchange, TSX Venture Exchange, TSX Markets, TSX Datalinx, TSX Technologies. TSX Group is headquartered in Toronto and maintains offices in Montreal, Winnipeg, Calgary and Vancouver.
About Bovespa
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Bovespa was founded in 1890 and today is constituted as a mutual, non-for-profit and self-regulatory organization under the supervision of the Brazilian Securities and Exchange Commission (CVM). Since 2000, Bovespa has operated as the sole equity market in Brazil, being the largest stock exchange in Latin America and the third largest equity options exchange in the world, in terms of number of contracts. All trades are executed fully electronically through an order driven trading system called Megabolsa. Bovespa also manages the BOVESPA FIX and SOMA FIX electronic trading systems for corporate fixed-income instruments. In recent years, Bovespa has played a prominent role in disseminating corporate governance standards through the creation of the Novo Mercado. Bovespa has spearheaded important initiatives such as regional integration, social responsibility and the increased participation of individual investors in stock market trading.
