SYDNEY Feb 25 Two Deutsche Boerse
-backed companies have signed agreements with
Indonesia's top commodity exchange seeking to develop trading
platforms, market surveillance and clearing, the companies said
The agreements are the latest step by Germany's biggest
exchange operator to grow its footprint in Asia.
Exchange operators from outside the region have tended
either to acquire a local player or set up their own Asia bourse
to compete with Chinese and Indonesian exchanges.
Germany-based Global Markets Exchange Group International
LLP, in which Deutsche Boerse holds a stake, has signed a deal
with Indonesia Commodity and Derivatives Exchange (ICDX) to
explore opportunities to provide its exchange trading platform
and market surveillance technology, the companies said in a
joint press release.
ICDX has also signed an agreement with European Commodity
Clearing, majority owned by European Energy Exchange, which is
also part of Deutsche Boerse Group.
Deutsche Boerse has said that it wants to expand in Asia.
Its European Energy Exchange unit, which offers European power,
natural gas, coal and emissions trading products, bought a 52
percent stake in Singapore-based Cleartrade Exchange, which
focuses on shipping products, in December last year.
Global bourses have been flooding into the region to tap the
world's fastest growing base of consumers, and seeking to profit
from a push to shift pricing benchmarks from the West.
ICDX's commodity contracts include gold, tin, crude palm oil
futures as well as foreign currency contracts.
(Reporting by Melanie Burton; Editing by Michael Perry)