The Nasdaq Stock Market Inc. and the Tel Aviv Stock Exchange have signed a Memorandum of Understanding to create a formal relationship between the two exchanges.
Under the terms of the agreement, Nasdaq and TASE will develop the channels of communication between the two markets and improve trading of companies traded on both exchanges.
On Tuesday, both exchanges, along with CIBC World Markets, will host the second annual Nasdaq TASE Israeli Investor Conference in New York to bring Israeli issuers together with U.S. investors.
The Nasdaq currently has 70 Israeli companies listed on the exchange, with a combined global market capitalization of over $60 billion.
The Tel Aviv Stock Exchange has approximately 633 listed companies and a total market capitalization of $208 billion.