SINGAPORE: Singapore Exchange Group (SGX) and Indonesia Stock Exchange (IDX) just shook hands on a deal to team up and explore opportunities in the Asean region.
SGX and IDX signed an MOU on Jan 29 to “foster greater access and connectivity between both markets and encourage cross-border investments,” The Edge Singapore reports.
So, what’s the deal? The MOU is all about bringing SGX and IDX markets closer, making it a breeze for investments to flow between Singapore and Indonesia.
They’re looking into depository receipts, ETFs, and even dual listings. It’s basically about creating more options for investors and smoothing the whole process.
Loh Boon Chye, CEO of SGX Group, is buzzing about this collaboration.
He said, “Enhancing connectivity within Asean is paramount to unlocking the full potential of our region’s capital markets and we are excited to be fostering greater collaboration with IDX.
Together, we aim to create a more vibrant and interconnected ecosystem, attracting international investors with the richness and dynamism of ASEAN’s investment landscape.”
Iman Rachman, the President Director at IDX, is on the same page. He’s excited about the potential growth, saying:
“We are excited to explore opportunities relating to the joint development of exchange products including ETFs and indices. We believe that this collaboration may contribute to the growth of both exchanges and capital market in the region.”
SGX shares nudged up a bit, closing at S$9.66 on Jan 26. /TISG
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