The Chinese government is keen on introducing IPO reforms. (Photo : www.scmp.com)
On Monday, Euronext has announced its partnership with the Shanghai Stock Exchange (SSE) in a bid to boost its cash, derivatives, commodities and index data promotion and marketing in the country.
The partnership aims to enhance the visibility and accessibility of companies, markets and products listed in Euronext, and maximize its presence in China. The venture, according to Euronext, will in turn help Chinese investors facilitate their investment in the European market.
Under the deal, the top priority is to educate the Chinese market about the available equities on Euronext. These cover 50 percent of Euro Stoxx 50 constituents as well as other hi-tech stocks.
Then, Euronext and SSE will join hands to refine data packages available, aiming to reflect the specific demand for the Euronext data.
Lee Hodgkinson, Euronext's Markets and Global Sales head, said, "I am delighted to be working together with the Shanghai Stock Exchange on this exciting initiative to promote Euronext markets in China."
"The Shanghai Stock Exchange has strong market data expertise and a broad client reach within China and we are looking forward to growing our partnership," he added.
For SSE's part, vice president Bo Que remarked that "by acting as domestic sales and marketing agent of Euronext market data, we believe this strategic cooperation can enrich product line for local information vendors and strengthen local investors' knowledge to manage their investment portfolio. It is also a further step for SSE toward internationalization."
With over 1,300 issuers worth $3.6 trillion in market capitalization, Euronext is regarded as the primary exchange in the Eurozone.
