UK market data outfit Markit is working with the Tokyo Stock Exchange to explore opportunities for the creation of new financial indices and valuation services and the promotion of improved post-trade processing for over-the-counter derivatives in Japan.
Under the terms of a Memorandum of Understanding (MoU) signed between the two, Markit and the TSE will initially establish a task force to explore the feasibility of closer co-operation.
Areas under investigation include the joint promotion of financial valuation services, index and data distribution opportunities plus co-operation in infrastructural improvements for OTC post-trade processing.
The discussions will also address the commercial and business aspects of any potential tie-ups, including the establishment of a joint venture company.