Securities licences expected next month
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Securities licences will be issued in January, paving way for the launch of the Yangon Stock Exchange later next year.
“The Securities Exchange Commission [SEC] will issue licences to brokerage companies. It will happen in January,” said Dr Maung Maung Thein, deputy finance minister.
On 23 December, Japan Exchange Group Inc, operator of the Tokyo Stock Exchange, and Daiwa Institute of Research Ltd, signed an agreement with the Myanma Economic Bank (MEB) to help establish Myanmar’s first-ever stock exchange.
Eligible brokerage houses must pass 9 criteria. The SEC, which was formed in August to supervise the new stock exchange, is working on the rules for issuing licences.
The Parliament passed a Securities Exchange Law in July 2013. By-laws and regulations will come out soon.
The stock market will be run by Yangon Stock Exchange Joint Venture Co, which is 51 per cent owned by the MEB under the Finance Ministry, 30.25 per cent by the Daiwa Institute and 18.75 per cent by Japan Exchange Group.
The exchange is preliminarily planned to start in October.
