News Releases

 
NYSE Euronext, Tel Aviv Stock Exchange Sign Cooperation Agreement
NYX, TASE to Increase Cooperation on Cross-Listing Efforts

NEW YORK/TEL AVIV, 30 JUNE 2008 – NYSE Euronext (NYSE Euronext: NYX) CEO Duncan L. Niederauer and Tel Aviv Stock Exchange (TASE) Chief Executive Officer Ester Levanon today signed a memorandum of understanding (MOU) that establishes enhanced cooperation between the two exchange companies, in particular in the area of cross-listings.

“We welcome this opportunity to further strengthen our partnership with the Tel Aviv Stock Exchange,” said Mr. Niederauer today during a signing ceremony at the NYSE. “We are committed to the success of this alliance, which will benefit and create growth opportunities for both markets and their respective customers.”

“The signing of the MOU with NYSE Euronext is another very important step forward in the globalization of the Israeli capital market,” said Ms. Levanon. “The Israeli capital market is performing very well and there is a high level of investor confidence. We look forward to working closely with NYSE Euronext over the coming years.”

Areas of possible cooperation:

Under the terms of the NYX-TASE MOU signed today, areas of possible cooperation involve encouraging NYSE Euronext-listed companies (listed on NYSE or Euronext markets) to cross-list their securities on the TASE, and encouraging TASE-listed companies to cross-list their securities on NYSE Euronext markets. The MOU also outlines a commitment by both exchange companies to explore holding joint conferences to enhance the visibility of corporate issuers and provide market participant education.

NYSE Euronext-Israel recent background:

  • The NYSE currently lists seven Israeli (or Israeli-derived) companies.   In Europe, six Israeli companies are listed on Euronext markets.
  • Trading volume in NYSE-listed Israeli companies has increased 31% annually since 2001.
  • The dollar value of trading in NYSE-listed Israeli companies has increased 52% annually since 2001, from $320,000 to $6.1 million on the NYSE.
  • On June 17, 2008, Yair Shiran, Israel’s Economic Minister to North America, along with executives from leading Israeli technology companies, visited the NYSE.
  • On May 12, 2008, Zohar Goshen, Chairman of the Israel Securities Authority, visited the NYSE.
  • On Nov. 28, 2007, Ester Levanon, CEO of the Tel Aviv Stock Exchange, and officials from the Tel Aviv Stock Exchange visited the New York Stock Exchange.
  • On Nov. 12, 2007, Israel Day, AIFL Chairman Kenneth J. Bialkin and AIFL Israel Chairman Benjamin D. Gaon, joined by Israeli business leaders, visited the New York Stock Exchange for Israel Day and rang The Opening BellSM.

 

Media contacts:

Tel Aviv Stock Exchange

Established in 1935, The Tel Aviv Stock Exchange is a fully-automated exchange with a central order book trading system.  With approximately 633 listed companies and a total market capitalization of US$208 billion, the Exchange is a 'one-stop shop' for capital market activity in Israel, with an increasingly sophisticated range of products available to investors, including 120 ETFs (Index Products).  The state-of-the-art Exchange is also home to the local investment community and securities sector. Today the market has become an advanced, top of the line venue for trading in securities of all types.  For more information about the Exchange, visit the website at www.tase.co.il

About NYSE Euronext

NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation.  Its family of exchanges, located in six countries, includes the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms.  NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions.  NYSE Euronext's nearly 4,000 listed companies represent a combined $28.5 / 18.4€ trillion (as of May 31, 2008), in total global market capitalization more than four times that of any other exchange group.  NYSE Euronext's equity exchanges transact an average daily trading value of approximately 157.5 /103.4 billion (as of May 31, 2008), which represents more than one-third of the world's cash equities trading.  NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index.  For more information, please visit www.nyx.com.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2007 (“document de référence”) filed with the French Autorité des Marchés Financiers (Registered on May 15, 2008 under No. R. 08-054), 2007 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.



Contact: Christiaan Brakman
Phone: 212-656-2094
Email:  cbrakman@nyx.com