The main objectives of the special task force are to help public companies list on the YSX by facilitating and expediting the process.

Listing on the YSX involves a 7-step process which takes around two years to complete, according to the listing procedure on the YSX website.

The process is broken down into three stages. Preliminary preparations, which take about a year, involve the appointment of necessary parties such as underwriters and auditors as well as development of a financial and business plan as well as adopting appropriate corporate governance and reporting procedures.

The subsequent documentation, company restructuring and listing preparations could take up to another year.

By establishing the task force, the SECM hopes to encourage more companies to consider listing on the YSX and over the longer term build up more trading activity and liquidity on the exchange, U Maung Maung Win said.

The move comes barely a week after the YSX doubled its stock trade matching times to four from two previously. It was actually the second time the exchange has increased matching times, which is the process of matching buy orders to sell orders, since opening for business in 2016. It increased matching times to twice a day last August.

Last December, the YSX also implemented an online trading system, a move which resulted in a 30 percent spike in trading volumes.

Meanwhile, the new Myanmar Companies Law, which was approved in December and should come into effect in August, will allow foreigners to participate in trading on the YSX. If that is successful, it is expected to substantially boost trading activity on the exchange.

“The special task force will be formed with the help of the Japanese International Cooperation Agency soon and many more companies could list on the YSX,” said U Yin Zaw Myo, Managing Director of YSX.

Since trading on the YSX began in March 2016, more than 5 million shares worth over K90 billion have exchanged hands. “This is a fair situation for an emerging market. The YSX is trying to emulate other stock markets in Southeast Asia, where implementing a successful bourse has taken time. The YSX will review its performance over the past two years and make improvements where needed,” U Yin Zaw Myo said.

He added that more investors such as institutions are needed to deepen the stock market in Myanmar. “The YSX needs more investors. Currently, we have individual investors but lack institutional investors,” he said.

The Myanmar Stock Price Index closed yesterday at 442.58 points, with 7,677 shares traded. At its high in March 2016, the index hit 1,322.58 points with more than 200,000 shares traded.

Source: https://www.mmtimes.com/news/secm-form-special-task-force-help-ysx.html