The Cambodia Securities Exchange (CSX) and Shanghai Stock Exchange (SSE) are joining forces to explore cooperation on information sharing, personnel exchanges, and joint research for financial product development.
A memorandum of understanding (MoU) was inked to this effect on November 26 by CSX CEO Hong Sok Hour and SSE president Cai Jianchun.
In June 2019, the Securities and Exchange Regulator of Cambodia (SERC) and the China Securities Regulatory Commission (CSRC) entered into an MoU on “Cooperation in Securities and Futures Supervision”, the SSE noted in a statement.
In October that year, Sok Hour attended the “2019 International Workshop for Stock Exchanges" hosted by the Shanghai International Centre for Communication and Cooperation between Exchanges (SICCCE), it added.
In a separate statement, the CSX said the newly-signed MoU would lay the foundation for cooperation between two parties.
Established in 1990, the SSE is one of the largest stock exchanges in the world based on total market capitalisation. The bourse provides various types of financial instruments, including stocks, bonds, fund and derivatives.
As of October 31, over 2,000 companies were listed on its Main Board and sci-tech innovation board, commonly known as the Star market. The daily average trading value of the two boards combined is around $70 billion this year.
To date, the CSX has signed MoUs with more than 10 local and international institutions.
There are 14 companies listed on the bourse, eight of which have issued stocks and six of which have bonds on the market.
As of September 30, 2020, the then-13 listed companies had raised a combined $253 million. The stock index increased more than 57 per cent in 2019 compared to the previous year, only to dip 14.93 per cent in 2020, CSX data show.