The Tokyo Stock Exchange and the Korea Exchange become the latest cross-border exchanges to consummate a partnership.

With the global markets becoming increasingly interconnected, exchanges and trading venues are looking toward interconnectivity in addition to mergers to broaden their reach.

Under the agreement formed between the TSE and KRX, the two exchanges will offer each other’s stock quotes on their web sites. In the future, they will also look to jointly develop trading infrastructure to allow members to more conveniently place orders on each other’s exchanges, as well as the potential for cross-listing of ETFs and derivatives products.

“By further strengthening our relationship and concentrating our expertise to implement a diverse range of measures, we will be able to improve market access and promote understanding on both markets by all our market participants, and invigorate the capital circulation between Japan and Korea,” said Atsushi Saito, president and chief executive of TSE Group said. “We are confident that this will contribute to the future development of both our markets.”

The partnership comes about a month after the TSE announced that it would merge with cross-country rival Osaka Securities Exchange, which is one of the latest examples of trading venues combining in order to better compete on a global level. Significant synergies would also be realized due to the different asset classes served by each exchange, with the TSE in equities and the OSE in derivatives.

The TSE also recently announced a partnership with NYSE Euronext whereby they will offer interconnectivity between each other’s trading platforms. The mutual connection between the TSE and NYSE is formed between the TSE’s Arrownet and NYSE’s Secure Financial Transaction Infrastructure. Although new services to utilize the new infrastructure are planned for the second quarter of 2012, the connection between the two networks has already been installed and NYSE Technologies, the technology unit of NYSE Euronext, will begin distributing TSE market data shortly.

The connection is one of the latest in a line of cross-border connections to be formed between exchanges. Deutsche Borse recently announced the formation of a mutual development partnership with the Istanbul Stock Exchange, under which the two exchange operators will work together in several business areas, including the development of new research and technology, assisting each other in marketing efforts, as well as introducing joint indices, in an effort to create a closer cooperation between Frankfurt and Istanbul.