Friday, 19 April 2019 | 08:02 WIB

IDX Continues Cooperation with Stock Exchange of Thailand

Signing of cooperation between IDX and SET.

BANGKOK, NNC - The Stock Exchange of Thailand (SET) signed a memorandum of understanding (MoU) with the Indonesia Stock Exchange (IDX) in order to synergize the development of capital markets, especially trans-boundary transactions, information technology and business opportunities between the two exchanges, as well as sharing knowledge and experience.

SET President Kesara Manchusree said the MoU between SET and BEI, which spans five more years starting today until March 6, 2023, underscores SET's strategic plan to increase fundraising and investment to create business opportunities for long-term growth in the region. The cooperation of both parties has been taking place since 2006.

She said the extension of the MoU would encourage long-term relationships and increase cross-border transactions from financial instruments such as Depository Receipts (DR) and Exchange Traded Funds (ETFs) with Thai or Indonesian base assets.

"The agreement also includes cooperation for product development and technology using new technologies for business operations, as well as information sharing to further strengthen the development of two capital markets," she explained.

Meanwhile, President Director of IDX Tito Sulistio in an official statement delivered on Tuesday (3/6/2018) stated that this MoU is an addition to support communication and coordination between the two exchanges in ASEAN, as well as to promote the development of capital markets in both countries. IDX has its own uniqueness and characteristics, as well as SET.

"In particular, most companies listed on the IDX are unique in comparison to other countries' exchanges, and this unique company has contributed not only to the Indonesian economy, but also provides competitive returns to investors," Tito said.

IDX expects this partnership could open potential not only for issuers in both countries, but also through cross-border investors, product transactions from financial instruments such as DR and ETF with underlying assets of Thailand or Indonesia.