Europe's Atos Euronext Market Solutions (AEMS) is teaming with Bursa Malaysia Berhad (Bursa Malaysia) to set up an IT outsourcing joint venture that will provide technology services to the exchange as well as other market operators in Asia.
AEMS says the proposed 50:50 joint venture will combine its resources and technology with Bursa Malaysia's expertise in IT management.
Jean-Marc Bouhelier, CEO of AEMS, says: "Building on our successful business relationship with Bursa Malaysia, we see many other opportunities to deliver cost effective solutions for brokers, exchanges and clearing houses in the region.
"The combination of our global expertise and leading edge solutions, encoupled with Bursa's local presence and skilled resources, will position us to effectively service the Asian market."
Commenting on the deal, Dato Yusli Mohamed Yusoff, Bursa Malaysia's CEO, says: "We are hopeful that any further partnership with AEMS may open up possible opportunities for further regional collaboration in technology-related areas."
If both parties decide to proceed with the JV, a binding agreement will be signed by end of September 2007, says AEMS.