The Stock Exchange of Thailand (SET) announced that it has today signed the renewal of memorandum of understanding (MoU) to continue the synergized efforts on capital market development and business opportunities between the two exchanges, including products and services development, IT infrastructure cooperation and information exchange.
SET President Kesara Manchusree commented:
The MoU between SET and KRX, spanning another five years from today to February 4, 2023, underscores SET’s strategic plan to enhance fundraising and investment in order to create business opportunities for long-term growth in the region. The extension of the MoU period would foster our long-term relationship and synergize concerted efforts on new products and services development. The agreement also embraces cooperation for improving IT infrastructure, investment activities to expand investors’ opportunities, seeking the possibility of collaborative investment as well as information sharing to further strengthen the development of the two capital markets.
KRX Chairman and CEO Jiwon Jung said:
Today’s MOU renewal is believed to be the very outcome of the exceptional achievements of SET-KRX collaboration during the last five years in various areas including, but not limited to the IT business and knowledge sharing. Today, the MOU has opened a new chapter of cooperation for both exchanges, even widening the possibility of mutual growth and prosperity. KRX has ceaselessly explored the innovation in the regional exchange industry, best exemplified with information business and new ecosystem for startup companies, while SET has showed its unprecedented growth in terms of market quality and quantity, positioning itself as a regional pioneer. Building uponthe previous success and accomplishments, KRX aims to unleash the new growth potential of Asia Pacific exchange industry with SET.
The MoU between SET and KRX started in 2006. In addition to the MoU, cooperation between the two markets also included implementing new technology for the clearing and settlement system of equity and derivatives products, among others.