“KLSE -AtosEuronext Alliance for Technology Enhancement”
Paris - July 18, 2003
Kuala Lumpur Stock Exchange (KLSE) signed the heads of agreement with AtosEuronext today to form an alliance towards enhancing the technology development initiatives of the Exchange and the Malaysian securities industry.
The agreement is a first step to optimise the expertise and resources between both organisations towards developing a mutually beneficial strategic partnership to achieve information technology (IT) process enhancement and business solutions development.
The heads of agreement outlines the broad principles of understanding by both parties to enter into detailed discussions with the objective of establishing a joint-venture company to better serve the technological needs of the KLSE Group and the Malaysian securities industry. Moreover, the new company will also promote its products and services to other identified regional markets in Asia.
KLSE is the consolidated Malaysian exchange offering a comprehensive range of products in securities, derivatives and offshore investment and a fully automated trading, clearing, settlement and depository service. KLSE will continue to deploy relevant and applicable technology to better serve its constituents and the Malaysian securities industry towards achieving greater efficiency, reliability and cost effectiveness.
AtosEuronext is a 50:50 joint venture between Euronext and Atos Origin. Euronext is the consolidated exchange for France, Holland, Belgium and Portugal, and the London International Financial Futures Exchange [LIFFE] whilst Atos Origin is a major European information technology services company. AtosEuronext combines an in-depth knowledge of the financial and capital markets, and high technology, making it a leading European information technology service provider in the international financial and exchange sectors.
Commenting on the alliance, Executive Chairman of KLSE Dato' Mohd Azlan Hashim said it is timely and strategic.
"The international strategic alliance between KLSE and AtosEuronext is a significant start to best serve the interest of the KLSE Group, the Malaysian securities industry and the regional securities markets.
"There are several key areas we are looking to develop in this partnership including to adopt leading technologies which are more effective and cost efficient and to further adopt international standards in information technology tools and requirements.
"The KLSE-AtosEuronext alliance will also be developed to support the present and future business strategies of the exchange, including to enable the achievement of the benefits to be derived from a demutualised exchange structure," he said.
Mohd Azlan added the alliance would also allow KLSE Group to pursue its technology renewal programme including the recommendations specified in the Capital Market Masterplan using leading edge and globally recognised products. A major component of this is the Common Trading Platform project.
Another key objective of the alliance is to strengthen revenue by enhancing and broadening the range of products and services - in both the cash and derivatives markets, and to further develop the information services business for the KLSE Group.
Chief Executive Officer of AtosEuronext, Dominique Brutin said the alliance brings forward the complementary aspects of KLSE and AtosEuronext, whilst providing a foundation for strong growth for both organizations.
"One factor that brought both parties together into this alliance is the similarity of our technology systems, the similarity of our markets and the similarity of our corporate cultures which are oriented towards service and a high level of performance.
"With the signing of this agreement, we look forward to committing our teams and resources in developing a highly successful and mutually beneficial partnership for KLSE and AtosEuronext. In the near future, AtosEuronext and KLSE is in partnership to pursue the objective of becoming the Asia Pacific region's new leader in IT solutions for financial establishments such as Exchanges, Clearing Houses and Depositories," he said.
Jean-François Théodore, Chairman of the Managing Board and CEO of Euronext said, " We welcome this alliance between AtosEuronext and the Kuala Lumpur Stock Exchange. The philosophy behind Euronext is one of intellectual curiosity combined with a commitment to serving the financial services community. Good relations between markets, combined with the harmonization of practices in Europe, the United States and Asia can only benefit multi-national users."
About Kuala Lumpur Stock Exchange
Kuala Lumpur Stock Exchange (KLSE) is a company limited by guarantee under the Companies Act 1965. KLSE is an approved stock exchange under Section 8 of the Securities Industry Act 1983. Companies in the KLSE Group include a clearing house, central depository, derivatives exchange, international financial exchange and securities industry training institute.
About Atos Euronext
Founded in 2000, Atos Euronext is a 50:50 joint venture between Euronext (the leading pan-European exchange) and Atos Origin ( a top European IT services company). This partnership, which combines an in-depth knowledge of the world of finance with high technology, has made AtosEuronext a leading European IT service provider in financial and exchange sectors. AtosEuronext has 1,200 employees in Armsterdam, Brussels and Paris entirely dedicated to serving banks, exchanges and insurance companies around the world.
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