Asian trade venue the Stock Exchange of Thailand (SET) has signed a memorandum of understanding (MOU) with the newly established Lao Securities Exchange (LSX), which went live on 10 October 2010.
The two-year MOU provides support for the development of capital markets activity in Laos and carries over from the previous one signed in July 2008. Under the new agreement, SET will train LSX personnel, hold courses for securities professionals, and establish a Lao Capital Market Institute to develop financial and investment expertise in Laos to promote business opportunities between the two exchanges and their listed firms, as well as dual listings.
“This is part of SET's strategy to build alliances and strengthen capital markets in Indo-China,” said Charamporn Jotikasthira, president of SET, noting the exchange's supporting role in the establishment of LSX since 2008.
SET recently announced the extension of an existing MOU with global exchange operator Nasdaq OMX for a further five years from October 2010. The deal will ensure continued support for trading and clearing platform of the Thailand Futures Exchange, a subsidiary of SET.
Earlier this month, SET sent out an invitation for bids to replace its cash equities trading system with a new, low-latency platform that would also provide new surveillance and market data services.