The two largest bourses in the world are to come together to incorporate technology and listings arrangements, although it is thought the initial deal could be a precursor to an eventual more concrete partnership.
The move across the Pacific follows NYSE's expansion in Europe with the acquisition of the Paris-based exchange operator Euronext. It has also taken a 20 per cent stake in India's National Stock Exchange in Mumbai.
Details of the strategic alliance will be announced later today, before TSE president & CEO Taizo Nishimuro and NYSE Group CEO John A Thain ring the opening bell on trading.
NYSE's progress comes as Nasdaq's efforts to acquire the London Stock Exchange head towards a conclusion, after the American market announced last week it would not raise its offer.