LSE And Tel Aviv Stock Exchange Sign MoU

by Philip Morton, Investors Offshore.com

23 February 2007

The London Stock Exchange and the Tel Aviv Stock Exchange have this week signed a Memorandum of Understanding to formalise the existing strong ties between the two organisations.

To mark the signing of the Memorandum, the CEO of Tel Aviv Stock Exchange, Ester Levanon, on Tuesday opened trading at the London Stock Exchange.

On Wednesday, the Tel Aviv Stock Exchange launched its annual international investor conference in London, showcasing a number of their largest listed companies.

Under the agreement, the London Stock Exchange and the Tel Aviv Stock Exchange will establish a series of regular meetings between senior executives and agree to exchange information, in order to facilitate orderly trading in the shares of companies admitted to both markets.

Commenting on the agreement, Ms Levanon observed that:

“The signing of this co-operation agreement with the London Stock Exchange is an important step in the long term development of the Tel Aviv Stock Exchange and the Israeli economy. We look forward to the development of our already fruitful relationship with the London Stock Exchange. We are pleased to be working together, to assist Israeli issuers to support their international goals.”

Clara Furse, Chief Executive of the London Stock Exchange, added:

“We are delighted to announce this memorandum with the Tel Aviv Stock Exchange. As the world’s leading international equity market we value our links with other exchanges very highly. I look forward to developing our strong relationship with the Tel Aviv Stock Exchange, to the mutual benefit of our companies and our markets.”

A total of 50 companies of Israeli origin are listed on the London Stock Exchange’s Main Market and AIM. Of these, 36 have joined in the last two years; over this period more Israeli companies have listed on the London Stock Exchange then on any other exchange outside of Israel.

Recommended