Indonesian exchanges to merge

Florida Statesman Monday 10th September, 2007

Indonesia's two equity exchanges, the Jakarta and Surabaya Stock Exchanges, are planning to merge.

The exchanges share the same owner who, in a bid to create a bigger and more competitive bourse, will hold shareholder meetings on Oct 30th to approve the merger.

The new bourse would use the existing facilities of the Jakarta Stock Exchange and would probably begin operations on December 1st.

Most investors currently prefer trading stocks on the Jakarta bourse while trading in Surabaya is mainly over-the-counter transactions for both stocks and bonds.

It is believed the new bourse would offer more products than those now traded on the Jakarta exchange, such as derivatives and real estate investment trusts.

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