Asean trading link set for launch
27 April 2012 | 4528 views | 0
The cross-border trading link being established by a group of South East Asian stock exchanges will officially launch in June.
In 2009 Bursa Malaysia, the Philippine Stock Exchange, Singapore Exchange and the Stock Exchange of Thailand outlined plans to create a single access point to ease cross-border trading and attract more international fund flows into the region.
Having initially aimed for a late 2011 launch, Bursa Malaysia and Singapore Exchange will now be connected in June with the Stock Exchange of Thailand added in August.
The partners have also formalised an agreement with FTSE to provide a range of Asean market data and analytics. Nyse Euronext's IT unit and SunGard have designed and built the technology required for the trading link.
Magnus Bocker, CEO, Singapore Exchange,says: "The collaborative decision of the member Exchanges to roll out the Asean Trading Link will mark our first key milestone towards breaking down the barriers to cross border trade in Asean."