ASEAN exchanges appoints technology provider for trading link

08:14, June 15, 2011      

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The stock exchanges of Singapore, Thailand, Malaysia and the Philippines said on Tuesday they have appointed a company as the technology provider to build their trading link project.

SunGard will be the technology provider of the ASEAN trading link, "the business-to-business intra-ASEAN (the Association of Southeast Asian Nations) cross-border order routing and trading platform," they said in a joint statement.

The project will electronically connect the markets of the participating exchanges, allowing investors and broker members to access the markets using a single connection.

It is expected to go "live" by the end of the first quarter of 2012, they said.

Hans B. Sicat, president and chief executive officer of the Philippine exchange, said the ASEAN trading link will facilitate global trades especially for retail investors seeking a bigger exposure.

Singapore Exchange Chief Executive Officer Magnus Bocker also said the exchange is pleased with the development of the ASEAN trading link which will enable investors to easily trade across markets in the region.

"We expect this link will drive greater liquidity and investment mobility in ASEAN," he said.

Charamporn Jotikasthira, President of the Stock Exchange of Thailand, said signing the agreement with SunGard, though another milestone for the trading link project, is not sufficient to make the project a success.

The exchanges will work together on marketing initiatives to promote the link and the ASEAN asset class, with a networking event to promote cross-border partnerships among brokers in Phuket in July.

The ASEAN trading link plan surfaced over the past two years as the bourses looked for opportunities to grow, with the expected date for the platform to go "live" originally tipped to be the end of 2011.

Source: Xinhua
 
 
     
 
 
 
     
 
 
 
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