Asean SEs to start cross-border trading in 2012

Asean SEs to start cross-border trading in 2012

The four exchanges appointed SunGard as technology provider of business-to-business intra-Asean cross-border order routing and trading Platform, a joint statement from the four bourses said.

The Sunguard would electronically connect markets of Bursa Malaysia (BMB), the Philippine Stock Exchange (PSE), Singapore Exchange (SGX) and the Stock Exchange of Thailand (SET), allowing investors and broker members to access multiple markets via a single connection.
SGX CEO Magnus Bocker said: “The development of Asean trading link which will enable investors to easily trade across markets in this region, the combined GDP growth of which is expected to average 6 per cent annually across the Asean countries over the next 5 years”. Bursa Malaysia CEO Tajuddin Atan said: “The Asean trading link is an important development in enabling our markets to create greater Asean investment mobility among intermediaries namely the broker members and information vendors.

This forms an integral part of the various initiatives in achieving the overall objective of the Asean Exchanges Collaboration to promote the growth of the Asean capital market”.
“The Asean trading link will facilitate global trades especially for retail investors seeking a bigger exposure in a fast growing Asean market,” Hans B Sicat, President & CEO of PSE said. Charamporn Jotikasthira, President of SET said the Asean exchanges will work together on marketing initiatives to promote the Asean link and the Asean asset class. Among others, there will be a networking event to promote cross-border partnerships among Asean brokers in Phuket in July, he added.

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)