BEJ and BES merge into BEI

Jakarta (ANTARA News) - The Jakarta Stock Exchange (BEJ) and the Surabaya Stock Exchange (BES) officially merged into the Indonesian Stock Exchange (BEI) on Friday.

The BEI would start operating on Monday (Dec 3), BEI President Director Erry Firmansyah said.

Although the two stock exchanges had merged, single-listed shares at the Surabaya Stock Exchange would be excluded from the Jakarta composite index, he said.

"We are waiting for normal conditions so as not to disrupt the BEI`s index," he said.

It would take two years for the BEI to return to normal conditions, he said.

During the transition period, the BEI management would unite the two stock exchanges` systems, he said.

In total, the BEI has 375 employees consisting of 300 from the BEJ and 75 from the BES.

Finance Minister Sri Mulyani Indrawati expressed hope the merger would bring about new spirit and integrity for the Indonesian capital market.

She said the merger came in proper time when the Indonesian capital market`s performance was improving.