We report a neutron scattering study on the tetragonal compound Sr 2 Cu 3 O 4 Cl 2 , which has two-dimensional ͑2D͒ interpenetrating Cu I and Cu II subsystems, each forming a Sϭ1/2 square lattice quantum Heisenberg antiferromagnet ͑SLQHA͒. The mean-field ground state is degenerate, since the intersubsystem interactions are geometrically frustrated. Magnetic neutron scattering experiments show that quantum fluctuations lift the degeneracy and cause a 2D Ising ordering of the Cu II subsystem. Due to quantum fluctuations a dramatic increase of the Cu I out-of-plane spin-wave gap is also observed. The temperature dependence and the dispersion of the spin-wave energy are quantitatively explained by spin-wave calculations which include quantum fluctuations explicitly. The values for the nearest-neighbor superexchange interactions between the Cu I and Cu II ions and between the Cu II ions are determined experimentally to be J I-II ϭϪ10(2) meV and J II ϭ10.5(5) meV, respectively. Due to its small exchange interaction J II , the 2D dispersion of the Cu II SLQHA can be measured over the whole Brillouin zone with thermal neutrons, and a dispersion at the zone boundary, predicted by theory, is confirmed. The instantaneous magnetic correlation length of the Cu II SLQHA is obtained up to a very high temperature, T/J II Ϸ0.75. This result is compared with several theoretical predictions as well as recent experiments on the Sϭ1/2 SLQHA.