Global firms to enter RI bourse

Global firms to enter RI bourse

Several top global investment banks will soon set up
securities operation in Indonesia, to tap profits from the
rapidly growing capital market industry, an official from the
Jakarta bourse said.

President director of the Jakarta Stock Exchange (JSX) Erry
Firmansyah said three investment banks were currently in the
process of seeking brokerage license from the Capital Market
Supervisory Agency (Bapepam) in order for them to operate here.

Erry said the three banks were U.S.-based Credit Suisse First
Boston (CSFB), and two U.K-based banks Barclays and Standard
Chartered (Stanchart).

"Banks are becoming increasingly interested in operating in
Indonesia because of our rapidly growing capital market industry
which is attracting overseas investors," Erry said.

Recently, German-based Deutsche Bank received a license from
Bapepam to set up brokerage operation in the country. -- JP