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 (MOU) 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 CEO Nesbitt added, “We look forward to working closer with BOVESPA to seek greater opportunities for issuers from both countries to expand their reach and shareholderbase.”

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.