JSX and LSE sign pact on technology exchange

JSX and LSE sign pact on technology exchange

JAKARTA (JP): The Jakarta Stock Exchange (JSX) and London Stock Exchange (LSE) will soon cooperate in fields of information and technology.

The memorandum of understanding on the cooperation was signed by Felia Salim, the research and development director of the JSX, and John Camp, the LSE chairman, in London Tuesday.

Felia said that the cooperation will include exchanges of staff, technology and information as well as a joint training program.

An Indonesian capital market mission, including Felia and Chairman of the Capital Market Supervisory Agency (Bapepam) Bacelius Ruru, is visiting London as part of its one-week European tour to promote the Indonesian capital market.

Felia expected that the cooperation agreement would enable the JSX to learn stock trading expertise from the LSE, one of the most important stock exchanges in the world.

"The LSE, in return, could get important information from the JSX," she said of the benefits of the cooperation agreement.

Meanwhile, Ruru said that the British government is assessing the possibility of expanding bilateral cooperation with Indonesia.

The British government, for example, expects the Indonesian government to float shares of state-owned companies on the LSE, Ruru told Antara following a meeting with Anthony Nelson, the Economic Secretary of Britain' Treasury.

The Indonesian government is now preparing the initial public offering of three major state companies including PT Telkom, the provider of domestic telecommunication services, PT Jasa Marga, the toll operator, and a subsidiary of the state electricity company PLN. The three companies will be also listed on international stock exchanges, following the successful debut of PT Indosat on the New York Stock Exchange last month. (hen)