TSE to provide tech expertise for new Myanmar exchange
12 April 2012 | 4472 views | 0
Tokyo Stock Exchange and Daiwa Securities Group say they are lending their experience and technological expertise to Myanmar's plans to build a stock exchange.
Myanmar is planning to establish a securities exchange by 2015 as it continues its tentative journey towards democratic and economic reform.
The country's central bank has signed a memorandum of understanding with the TSE and Daiwa Institute of Research, who will share their "mutual knowledge and experience" in developing the bourse.
Says a statement: "By providing its experience and technological expertise regarding the operation of a securities exchange market, TSE will work to create a fund-raising venue which is vital to corporate growth, while also focusing on investor education to promote market depth, and aiming to develop of the securities market overall".
Takashi Fukai, president and representative director of Daiwa Institute of Research, says that the project will not only modernise Myanmar's financial systems but also promote "the spread of IT throughout the country".