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The New York Stock Exchange and Indonesia Stock Exchange Sign Memorandum of Understanding
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
The New York Stock Exchange (NYSE) and the Indonesia Stock Exchange (IDX) have signed a memorandum of understanding to collaborate on product development, market promotion, and knowledge sharing. This agreement aims to strengthen ties between the two exchanges, enhancing global capital market opportunities. The collaboration was confirmed during a visit by an Indonesian delegation to the NYSE, emphasizing mutual benefits. The NYSE has previously engaged in similar partnerships with exchanges in Singapore, Japan, and South Africa to foster innovation and market growth.
Positive
Collaboration between NYSE and IDX to enhance product development and market promotion.
Establishment of new communication channels to foster knowledge sharing.
Negative
None.
The two exchanges will focus on key areas of mutual interest, including product development, market promotion, and knowledge sharing
NEW YORK & JAKARTA, Indonesia--(BUSINESS WIRE)--
The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), and the Indonesia Stock Exchange (IDX) today announced that they have agreed to collaborate on several areas of mutual interest, including joint product development.
The NYSE and the IDX signed a memorandum of understanding that also included opportunities for promoting both markets, information and knowledge sharing, and establishing new communication channels.
The agreement was finalized during a visit to the NYSE by an Indonesian delegation that included Hon. Iman Rachman, President Director of the Indonesia Stock Exchange, H.E. Rosan Roeslani, Ambassador of Indonesia to the United States and Arifi Saiman, Consul General of Indonesia in New York.
“We are pleased to sign this memorandum of understanding with the Indonesia Stock Exchange in support of our capital markets and the important ties they help create between our marketplaces,” said Lynn Martin, NYSE President. “The NYSE looks forward to working together with IDX to explore new products and share our innovations with issuers and investors.”
Iman Rachman, President Director of IDX said “We are keen to collaborate with NYSE and bring the longstanding relationship to the next level as NYSE is the largest exchange in the world and has become a benchmark in innovation and development. We believe that this synergy will bring mutual benefit for both exchanges in the long run.”
The collaboration represents an opportunity to promote the work of both exchanges, each of which have long histories in their countries, and highlight the importance of global capital markets. This agreement follows similar NYSE collaborations announced earlier this year with the stock exchanges of Singapore, Japan, and South Africa.
About NYSE Group
NYSE Group is a subsidiary of Intercontinental Exchange (NYSE: ICE), a leading global provider of data, technology and market infrastructure. NYSE Group’s equity exchanges -- the New York Stock Exchange, NYSE American, NYSE Arca, NYSE Chicago and NYSE National -- trade more U.S. equity volume than any other exchange group. The NYSE, an ICE exchange, is the premier global venue for capital raising. NYSE Arca Options and NYSE Amex Options are leading equity options exchanges. To learn more, visit nyse.com.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on February 3, 2022.
About the Indonesia Stock Exchange
IDX is the only stock exchange in Indonesia with more than 800 listed companies and total market capitalization around US$ 600 billion. IDX is a non-profit organization with main function is to create a fair, orderly, and efficient capital market in Indonesia. IDX promotes sustainable capital market through various initiatives and works closely with all stakeholders to provide transparency and investor protection. To learn more, visit www.idx.co.id
What is the collaboration between NYSE and IDX about?
The collaboration focuses on product development, market promotion, and knowledge sharing between the New York Stock Exchange and the Indonesia Stock Exchange.
When was the memorandum of understanding signed between NYSE and IDX?
The memorandum of understanding was signed during a visit to the NYSE by an Indonesian delegation, although the exact date is not specified.
How does the NYSE-IDX agreement benefit investors?
The agreement aims to enhance market opportunities and innovations, benefiting both issuers and investors in their respective markets.
Does the NYSE have partnerships with other exchanges?
Yes, the NYSE has previously formed similar collaborations with stock exchanges in Singapore, Japan, and South Africa.
