The Toronto Stock Exchange has signed a memorandum of understanding with the Tel Aviv Stock Exchange to formalize co-operation between the markets.

Under the MoU, the exchanges will work to broaden relations between them by developing channels of communication; advance opportunities for cross listing; support their respective regulatory authorities to develop a mutual recognition agreement; explore the development and listing of financial instruments tracking each other’s market indices; and initiate joint conferences, among other things.

“This MOU strengthens ties between the Israeli and Canadian capital markets and provides important opportunities for listed companies in both countries,” said Ungad Chadda, senior vice president of the TSX, who took part in Wednesday’s opening bell ceremony at the Tel Aviv Stock Exchange.

Ester Levanon, CEO of the TASE, said, “This MoU is an important event and a testament to the opportunity that Israel’s capital market represents for international investors seeking quality and growth. I look forward to a long and mutually beneficial relationship between TASE and the Toronto Stock Exchange.”