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Article: Osaka Securities Exchange and International Securities Exchange Terminate Memorandum of Agreement.
- Article from:
- Business Wire
- Article date:
- August 1, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OSAKA, Japan & NEW YORK -- The Osaka Securities Exchange Co., Ltd. (OSE) and International Securities Exchange Holdings, Inc. (ISE) today announced the termination of their Memorandum of Agreement (MOA) to create a jointly owned equity options trading platform for the Japanese market. Given market developments in Japan, OSE has changed strategic direction to concentrate on strengthening its core business, and as such, elected to terminate the MOA that would have led to the establishment of a new joint venture with ISE.
Michio Yoneda, President and CEO of OSE, said, "This adoption of a new strategic direction will allow us to concentrate on growing our core ...