 Bank & Finance
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24 Feb 09 11:39
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Southeast Asia plans electronic stock exchange link in 2010
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The stock exchanges of Singapore, Malaysia, Indonesia, Thailand and the Philippines said on Monday they hope to start an electronic trading link next year
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The stock exchanges of Singapore, Malaysia, Indonesia, Thailand and the Philippines said on Monday they hope to start an electronic trading link next year to enhance the competitiveness of their equity markets.
"This e-trading link, through one single access point, allows intra-ASEAN cross-border trading and will attract more international funds into ASEAN," the Singapore Exchange (SGXL.SI), Bursa Malaysia (BMYS.KL), Indonesia Stock Exchange, Philippine Stock Exchange and the Stock Exchange of Thailand (SET) explained in a joint statement.
The five bourses are currently in the process of evaluating a technology platform for the proposed e-trading link, Thailand SET President Patareeya Benjapolchai said in the statement.
"The e-trading link is expected to go on-line next year," she added.
ASEAN -- The Association of Southeast Asian Nations or ASEAN was established on 8 August 1967 groups Indonesia, the Philippines, Thailand, Vietnam, Myanmar, Malaysia, Singapore, Cambodia, Laos and Brunei -- used to be a popular investment destination for Western and Japanese comapanies but the region has been overshadowed by China and India in the past decade.
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