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The Stock Exchange of Thailand (SET) today signed the renewal of memorandum of understanding (MoU) with Indonesia Stock Exchange (IDX) to enhance the synergized efforts on capital market development especially cross-border transactions, information technology and business opportunities between the two exchanges, as well as knowledge and experience sharing.
SET President Kesara Manchusree said, "The MoU between SET and IDX, spanning another five years from today to March 6, 2023, underscores SET's strategic plan to enhance fundraising and investment in order to create business opportunities for long-term growth in the region. The extension of the MoU period would further foster our long-term relationship and boost cross-border transactions from financial instruments such as Depository Receipts (DRs) and Exchange Traded Funds (ETFs) with Thai or Indonesian underlying assets. The agreement also embraces cooperation for product and technology development using new technology for business operation, as well as information sharing to further strengthen the development of the two capital markets."
President Director of IDX Dr. Tito Sulistio said, “This MoU is a strategic milestone in the ongoing collaboration between IDX and SET. It commits us to work together more closely towards our common goals. IDX has its own uniqueness and strength, and so is SET. Through this MoU, we agree to exchange our knowledge and expertise to strengthen our markets, as well as to collaborate through listing of financial instruments and develop other areas of cooperation that will promote collaborative investment and business oportunities for both Exchanges and our market participants.”
The MoU between SET and IDX started in 2006 under IDX’s previous name: Jakarta Stock Exchange. SET has continuously supported IDX in various areas such as investor education and visits by IDX executives, staff and university students from Indonesia, among others.
