Thu, 13 Oct 1994

FIBV approves JSX regular membership

JAKARTA (JP): Members of the Federation of International Stock Exchanges (FIBV) have unanimously approved the regular membership of the Jakarta Stock Exchange (JSX) at the end of its two-day general assembly in Seoul.

The Paris-based federation also admitted the Warsaw Stock Exchange during the meeting Tuesday, thereby increasing the number of the federation's members to 35.

A JSX spokesman said in a statement made available here that the approval of JSX's membership reflected the recognition of the world's major stock exchanges. Full membership in the federation has now placed the JSX in the same group as major stock exchanges in the world.

The general assembly, attended by 200 executives representing 44 exchanges from 35 countries, also held intensive discussions on measures to standardize the international financial criteria of listed companies. The standardization is expected to ease the understanding of companies' financial information.

The general assembly also agreed during the meeting to better organize the Over the Counter (OTC) electronic markets for the interest of investors.(hen)