JSX, AEX ink deal on mutual listings<\/p>\n
JAKARTA (JP): The Jakarta Stock Exchange (JSX) and the
\nAmsterdam Exchanges (AEX) signed a memorandum of understanding
\n(MoU) here on Tuesday to facilitate mutual listings.<\/p>\n
\"With the agreement, companies listed on the JSX will in the
\nlong run be able to trade their shares on the AEX without passing
\nthrough listing procedures,\" JSX president Mas Achmad Daniri told
\na news conference after the signing of the agreement.<\/p>\n
Daniri said the exchanges would need at least one year to
\nprepare for the mutual listings because they would first have to
\nreconcile their respective trading regulations and listing
\nrequirements.<\/p>\n
AEX executive board member Hans Brouwer described the MoU as a
\nbreakthrough in the two exchanges' relations, but he said that
\nrealizing the mutual listing agreement would take time.<\/p>\n
\"There is a long way to go and it is not easy. We have to
\nthink about all the requirements which have to be harmonized.
\nThat's a lot of work, not only in the area of stock exchanges,
\nbut also in the area of the national law and supervisory board
\nand so on.\"<\/p>\n
For example, if the AEX stipulated that a company had to be
\nprofitable for the two years prior to its listing on the
\nexchange, then JSX should also adopt such a regulation, Brouwer
\nsaid.<\/p>\n
He said there were many companies from Indonesia which could
\nbe listed on the AEX, such as those in the telecom sector.<\/p>\n
Dutch companies that would want to be listed on the JSX were
\nthose with operations in Indonesia, he added, and most of them
\nwere already listed on the AEX.<\/p>\n
\"If they want to expand their operations and need capital to
\nexpand their activities in Indonesia, they must have the
\npossibility to go to the JSX,\" he said.<\/p>\n
Daniri said a joint listing with the AEX would help the JSX
\nbecome a world class stock exchange while competing with other
\nstock trading operators in other emerging markets.<\/p>\n
The AEX, with market capitalization of US$800 billion, is the
\nninth biggest stock exchange in the world.<\/p>\n
There are 700 companies listed on the AEX, of which 250 are
\nforeign companies from the U.S., Canada, Japan and European
\ncountries.<\/p>\n
AEX has its 17 biggest stocks listed on the New York Stock
\nExchange and 30 of its other stocks listed on the Nasdaq stock
\nexchange.<\/p>\n
AEX consists of three exchanges -- a stock exchange, option
\nexchange and commodity exchange, Brouwer said. (udi)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jsx-aex-ink-deal-on-mutual-listings-1447893297",
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"sponsor": "Okusi Associates",
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