Deutsche Borse has announced the formation of a mutual development partnership with the Istanbul Stock Exchange.

Under the agreement, 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.

“Deutsche Borse and ISE have already initiated a number of activities to facilitate the development of communication channels and to build up a continuous relationship between the parties for the respective benefit of the securities markets in Germany and in Turkey,” said Frank Gerstenschläger, Deutsche Borse executive board member and responsible for the Xetra business area. “It is the intention of both parties to assist each other in their efforts to improve and promote their service portfolio in both countries.”

The Istanbul Stock Exchange is the only securities exchange in Turkey, providing the trading of equities, bonds and bills.

Deutsche Borse is currently awaiting regulatory approval for its merger with NYSE Euronext. The parties most recently submitted concessions addressing the concerns of regulators. A decision on the deal is expected by Jan. 23.

The alliance between Deutsche Borse and the Istanbul Stock Exchange is the latest partnership reached between cross-border trading venues for the purposes of sharing technology.

In September, Bolsa Electronica de Chile’s South American neighbor BM&F Bovespa came to an agreement with Nasdaq to use its Smarts Integrity market surveillance platform to provide added market monitoring capabilities. Aside from BM&F Bovespa, which is the largest stock exchange in Latin America, Bovespa Market Supervision, its Brazilian self-regulatory organization, will also share in using the trade monitoring technology.

Exchange operators Bolsa Mexicana de Valores and MexDer have each entered into strategic partnerships with CME Group whereby they utilize the Chicago derivative exchange’s technology. Since the partnerships began, the markets have seen speed increase and become more efficient.

Such partnerships have not been limited to trading platforms. Earlier in the month, agency broker-dealer Auerbach Grayson formed an alliance with U.K. counterpart Panmure Gordon, in a move that would give Auerbach Grayson’s customers access to foreign securities.