Japanese high tech-oriented stock exchange JASDAQ said yesterday it was in talks with its US counterpart, NASDAQ, about a possible alliance that might allow mutual listing of companies on each other's markets.
The JASDAQ Securities Exchange and NASDAQ Stock Mar-ket Inc. are also studying ways to list Asia-based startup companies on the NASDAQ, hoping to launch the plans as soon as possible, a JASDAQ spokesman said on condition of anonymity, citing exchange protocol.
JASDAQ officials acknowledged earlier this year that they had held a meeting with NASDAQ in New York, but at the time they denied that they had discussed a possible alliance.
However, the JASDAQ spokes-man yesterday acknowledged that the exchanges had started talks over possible business cooperation in August, and were still discussing details.
Although NASDAQ officials are hoping to launch the plans as soon as possible, the talks have not reached a point where they can make an official announcement, he said.
NASDAQ officials were not immediately available for comment after business hours in New York.
The talks are the latest amid a growing tie-up between global stock exchanges.
Earlier this year, pan-European exchange Euronext NV agreed to a merger with the New York Stock Exchange to create the world's largest exchange.
Asia's largest market, Tokyo Stock Exchange, also set up an alliance with American Stock Exchange in 2001.
NASDAQ has amassed a 25.1 percent stake in the London Stock Exchange Group PLC, making it the favorite to buy the group.