The agreement will help foster the growth of the junior market in Indonesia and will allow companies to dual invest and access both markets directly
CNCEX a professional commodity and futures exchange where investors benefit from its diverse services and understanding of local markets, while the pan-Asian reach and international client base support the Asian economy and drive economic growth, today announced it has entered into an agreement that will lead to the creation of a new venture exchange division of the CNCEX, called the CNCEX Venture in Indonesia. The new Exchange Venture is to be launched next year, subject to the completion of applicable regulatory processes. The name of the new partner, named partner from this point onward, will be announced later this month upon the signing of the contracts and their ratification with the Chinese and Indonesian Trading Authorities.
CNCEX Venture will initially focus on commodities and future trading and capital formation for small and medium enterprises (SMEs) in the mining sector. This will strengthen and create a strong connection between the mining industry and the Indonesian capital market. At a later stage, the initiative may expand to other industry sectors.
“We are taking a huge step forward in terms of innovation and leadership,” said Stanley Sam Hung, Executive Director and Global Head of Derivatives Licensing at CNCEX. “We are generating a new segment, developing and opening the capital market to growing businesses and offering funding opportunities to projects looking for initial capital at the Exchange.”
Mr. Hung continued, “This agreement will provide us with CNCEX’s expertise in implementing and regulating this type of market. We hope that the Venture Market in China generates the same recognition as CNCEX.”
“CNCEX Venture Exchange will be a pioneering global platform for financing and trading SMEs,” said Mr. Hung.
About CNCEX (Chengdu Commodity Exchange)
CNCEX is a professional commodity and futures exchange. The establishment of Chengdu Commodity Exchange (CNCEX) is of strategic significance to deepening reform on the financial market, perfecting the financial market system, and exercising the function of the financial market. CNCEX aims to develop the market economy and maintain the normal order of the financial market by perfecting the capital market system, exercising the function of the commodities markets, financial futures market, safeguarding the normal trading of financial derivatives including financial futures, and protecting trading parties’ lawful rights and interests and the common interests of the public.