Citi gains seat on Indonesia bourse, partners with VDB

Citicorp Securities Indonesia strengthens its position in equities brokerage after gaining a seat on the Indonesia stock exchange. Elsewhere in the region, the bank signs a comprehensive partnership with Vietnam Development Bank.

Citigroup has been allocated a seat on the Indonesian stock exchange IDX, and expects to start trading directly in domestic equities in August. The exchange has given the go-ahead for Citicorp Securities Indonesia to act as an equities broker, so it will soon be able to offer local and international clients direct access to the Indonesian stock market.

The US bank has had to wait for about a year for approval, because the bourse has a restricted number of seats available. A domestic broker gave up its membership, which meant that Citi could move ahead with its plans.

We are already a leading player in the Indonesia capital...

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