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The MOU aims to facilitate the development of channels of communication and to foster a close relationship between both exchanges for the benefit of the financial services industry in Indonesia and Singapore. The MOU signals an alliance that will provide the platform for information-sharing links and a greater understanding in each exchange's market.
Mr Hsieh Fu Hua, CEO of SGX said, "We are very happy to sign the MOU with Jakarta Stock Exchange. The MOU signals a commitment for closer working relationship between the two exchanges that will facilitate the growth and development of the region's financial markets."
Mr Erry Firmansyah, President Director of JSX added, "We are pleased to enter into this agreement, which is the first step towards forging better mutual understanding and sharing of information between the two exchanges and their markets. We hope our investors will benefit from our closer co-operation."
The latest MOU is in line with SGX's long term strategy of building international alliances and to serve as Asia's financial gateway. SGX has signed MOUs with other exchanges including Shanghai & Shenzhen Stock Exchanges, American Stock Exchange and Tokyo Stock Exchange. It has set up a trading link with Australian Stock Exchange and is working with Bursa Malaysia on launching a similar trading link before end 2006.
