TMX Group Ltd. and the Shenzhen Stock Exchange have executed a nonbinding memorandum of understanding to explore opportunities for economic cooperation focusing on the technology and innovation sectors.
The exchanges plan to create the China-Canada Technology and Innovation Companies Service Initiative, with a goal to connect investors and companies in the technology and innovation sectors in Canada and China through a capital formation platform. The initiative will combine existing services, facilities and networks, and the exchanges may explore the possibility of creating trading and clearing and settlement connections between the two countries.
The China Securities Regulatory Commission approved the memorandum of understanding in late September. The agreement is effective for five years.