News
Bursa Malaysia and FTSE Group Sign MOU to explore possibility of developing new suite of indices
BackJun 22, 2005
| General Announcement Reference No BM-050617-64628 |
| Company Name | : | BURSA MALAYSIA BERHAD |
| Stock Name | : | BURSA |
| Date Announced | : | 22/06/2005 |
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| Type | : | Announcement |
| Subject | : | Bursa Malaysia and FTSE Group Sign MOU to explore possibility of developing new suite of indices |
Contents :
We wish to inform that Bursa Malaysia (Bursa) and global index provider FTSE Group (FTSE) today signed a memorandum of understanding (MOU). The purpose of the MOU is to explore the feasibility of creating and promoting new indices for the Malaysian markets.
Under the MOU, FTSE will undertake a consultative study and provide Bursa with an index design report which will include, amongst others, results of market consultation and consultation with relevant government agencies.
Thereafter, upon full consideration of all policy, commercial and legal objectives, a decision will be made by both parties on whether to enter into legally binding arrangement to develop and promote the proposed new suite of indices. In such event, Bursa and FTSE shall negotiate and determine the final terms and conditions of this arrangement. Any proposed new indices if agreed thereafter by both parties will be designed based on industry feedback, free-float adjusted and in line with international classification benchmarks.
The MOU does not create legally binding obligations between the parties and will not have any financial impact on Bursa.