The Tel Aviv Stock Exchange (Tase) and Canada’s Toronto Stock Exchange have formalised their co-operation. Last week, the exchanges signed a memorandum of understanding (MoU). Under the agreement, the exchanges will work to broaden relations between them by developing channels of communication; advancing opportunities for cross-listing; support the respective regulatory authorities to develop a mutual recognition agreement; explore the development and listing of financial instruments tracking the other’s market indices; and initiate joint conferences.

Ester Levanon (pictured, centre), chief executive of TASE, said: “The development of the Tel Aviv Stock Exchange’s international exposure is one of the Tase’s key strategic objectives.” The Tase has signed MoUs with the London Stock Exchange, Nasdaq (USA), NYSE-Euronext (USA and Europe) and SSE (China).