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Singapore, Bangkok, Kuala Lumpur, Manila, June 14, 2011 - (ACN Newswire) - Four exchanges in ASEAN - Bursa Malaysia (BMB), The Philippine Stock Exchange (PSE), Singapore Exchange (SGX) and the Stock Exchange of Thailand (SET) - today said that they have made progress toward achieving interconnectivity amongst their respective markets as part of the broader ASEAN Exchanges Collaboration.
Today, the four exchanges have appointed SunGard as the technology provider of the business-to-business intra-ASEAN cross-border order routing and trading platform that will electronically connect the markets of participating exchanges and allow investors and broker members to access multiple markets via a single connection. The platform is expected to go "live" by the end of the first quarter of 2012.
Dato' Tajuddin Atan, Chief Executive Officer of Bursa Malaysia said: "The ASEAN trading link is an important development in enabling our markets to create greater ASEAN investment mobility amongst 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," said Mr Hans B. Sicat, President and CEO of PSE.
Mr Magnus Bocker, CEO of SGX, said, "We are pleased with the development of the 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% annually across the ASEAN countries over the next 5 years. We expect this link will drive greater liquidity and investment mobility in ASEAN."
Mr Charamporn Jotikasthira, President of SET said, "Signing the agreement with SunGard today is another milestone achieved for the ASEAN link project. However, technology alone is not sufficient to make this project a success. 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."
Mr Nasser Khodri, Asia Pacific managing director of SunGard's global trading business, said, "This important initiative represents a key milestone on the road to an integrated ASEAN capital market, and we are delighted to be chosen as a partner in this key initiative for the region."
Contact:
BMB
Geeta Balakrishnan
Head, Group Communications
Tel +603 2034 7374
Mobile: +6012 389 6240
Email: geetabalakrishnan@bursamalaysia.com
PSE
Elizabeth Lacson
Head, Public & Investor Relations Section
Tel : +632-688-7583
Mobile: +63917-8622921
Email : eslacson@pse.com.ph
Nina Bocalan-Zabella
Assistant Head, Public & Investor Relations Section
Tel : +632-688-7582
Mobile: +63922-8412310
Email : nrbocalan@pse.com.ph
SET
Ladawan Kantawong
Head, Corporate Communications Dept
Tel : +662-229-2036
Fax : +662-359-1004-6
E-mail : ladawan@set.or.th
Kanokwan Khemmalai
Deputy Head
Corporate Communications Dept
Tel : +662-229-2048
Fax : +662-359-1004-6
E-mail : kanokwan@set.or.th
SGX
Loh Wei Ling
Vice President
Communications
Tel : +65 6236 8157
Mobile: +65 9176 2800
Fax : +65 6533 4310
Email : Loh.WeiLing@sgx.com
Topic: Production report
Source: ASEAN Exchanges
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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