The Stock Exchange of Thailand (SET) and Lao Securities Exchange (LSX) agree to extend their memorandum of understanding (MOU) covering operational enhancement and development for the Laotian exchange. Among others, the extended MOU encompasses human resource training, market surveillance, and promoting business opportunities between the two exchanges.
The extended MOU (2013-2014) emphasizes the long-term collaboration between the two exchanges, further deepening the close relationship between the exchanges and financial service industries in both countries. This is the second extension of the MOU aiming at developing expertise of LSX staff, other market professionals, investors, and other participants in the capital market.
SET President Charamporn Jotikasthira said: “SET is committed to cooperating with LSX by providing LSX staff with training courses and on-the-job training programs related to stock exchange operations, assisting in training other capital market professionals, market surveillance, and conducting regular senior executive meetings.”
LSX Chairman and CEO, Assoc.Prof. Dethphouvang Moularat said: “This MOU extension reinforces the good relationship between the two exchanges, which began in 2008 before the LSX was established and continued after LSX started operating in 2010. Our long and close relationship has proven to be effective, and the SET has significantly contributed to the development of the Lao’s capital market.”
In collaboration with LSX, SET is to provide training courses and study trips for LSX staff as well as to assist in other areas related to training professionals in the capital market. To ensure market orderliness, transparency, and integrity, SET will share its expertise and experience in market surveillance, investigation and prosecution of violators of securities rules and laws. In addition, the two exchanges will promote collaborative investment and business opportunities.
The MOU takes effect from December 25, 2012, extending from the previous signing in October 2010. The first MOU was in July 2008.