SET Chairman Mr Vijit Supinit disclosed that SET signed separate MOUs on April 13, 2006 with both exchanges during the 25th Asian and Oceanian Stock Exchanges Federation General Assembly in Taipei, Taiwan, R.O.C.
“Partnership with KRX and JSX will lead to a more efficient exchange of information, as each market has its own strengths. The MOUs are good starts toward increasing official mutual development. This may include joint studies, seminars, staff exchange with JSX, and cooperation to develop a bond trading system, research, and training with KRX,” Mr. Vijit said.
“The MOU establishes a broad platform for mutually beneficial cooperation. Both exchanges agreed to provide information to smooth the operations of each exchange. Under this agreement, the two exchanges open opportunities for further cooperation to develop both securities markets,” Mr. Erry Firmansyah, the President Director of JSX, noted.
KRX Chairman and CEO Young-Tak Lee said, “We are very pleased that SET and KRX have agreed to cooperate and communicate with each other in a more formal manner. We highly value our relationship with SET, which is growing rapidly every year. This arrangement will benefit all market participants and the financial services industry in Thailand and Korea.”
JSX was privatized in 1992 and as of end-2005 market capitalization was recorded at approximately USD 81 billion, with 336 listed companies.
KRX was inaugurated in January 2005 through the merger of Korea Stock Exchange (KSE), Korea Futures Exchange (KOFEX), and KOSDAQ market. As of end-2005, the KRX was home to 1,616 companies whose total market capitalization exceeded USD 718 billion.
