The Lahore Stock Exchange (LSE) and the Tehran Stock Exchange (TSE) have signed an agreement to enhance co-operation between capital markets and the Exchanges of the two countries. The MoU signed provides a framework for co-operation and increased assistance in all areas of mutual interest.
The LSE Managing Director and Chief Executive Officer Aftab Ahmad, and TSE Chief Executive Officer and President Dr Hassan Ghalibaf Asl signed the memorandum of understanding, which was under consideration by Boards of the respective Exchanges for some time.
This MoU forms the basis for future sharing of experiences and advancements in the areas of technology, information dissemination procedures, market making, and exchange of information and/or experts. The LSE and TSE have also agreed to work together in finding ways through which trading floors of both the Exchanges may be opened for investors of both the countries.
"This MoU is indeed a landmark for capital Market of Pakistan. "We certainly can learn a lot from the experiences of the Tehran Stock Exchange, which is of course a much bigger Exchange than LSE especially the experience of TSE of demutualization is another area of much interest to stock exchanges of Pakistan".
Both the exchanges can also work together and build upon the IT strength & leadership of LSE" said Aftab Ahmed Chaudhry on the occasion. The TSE is the largest Stock Exchange in Iran with a market capitalisation of around 100 billion dollars, while the Lahore Stock Exchange is the 2nd largest Exchange in Pakistan and a driver of innovation in the capital market.