Singapore Exchange Limited (SGX) has signed a Memorandum of Understanding (MOU) with the Jakarta Stock Exchange (JSX).
“The MoU signals an alliance that will provide the platform for information-sharing links and a greater understanding in each exchange’s market,” says a spokesman for Citigroup in Singapore. “The latest MOU is in line with SGX’s long-term strategy of building international alliances and to serve as Asia’s financial gateway.”
Other exchanges with which SGXX has signed MoUs include Shanghai, Shenzhen, the American Stock Exchange and the Tokyo Stock Exchange. It has also set up a trading link with the Australian Stock Exchange and is working with Bursa Malaysia on launching a similar trading link before end of 2006.
“The MoU provides a platform for sharing of information and promotes a better understanding of the securities market in both countries,” says the Citigroup spokesman. “Similar to the Australia trading link, this may pave the way for a similar link between Singapore and Indonesia in the future.”