Eddy said: Imagine 4 easily crackable pillars used to build a house, you think it will makes the house better resistance to disaster? Each of the exchanges got their own problems which I think currently remain unresolved or unidentified and how could they even propose to integrate them. The integration shall makes them even more vulnerable. Mate, think harder.
KUALA LUMPUR: Bursa Malaysia Bhd, Indonesia Stock Exchange, Philippine Stock Exchange Inc, Singapore Exchange and the Stock Exchange of Thailand (SET) yesterday signed a preliminary agreement to set up an Asean electronic trading link to enhance the competitiveness of their capital markets.
In a statement, Bursa said the e-trading link, through a single access point, allowed intra-Asean cross border trading and would attract more international funds into the region.
According to Bursa chief executive officer Datuk Yusli Mohamed Yusoff, an integrated Asean capital market will raise the profile of this region’s securities to the global investment community.
SET president Patareeya Benjapolchai said the linkage was open to other Asean bourses besides the five that signed the memorandum of understanding.
“We are now in the process of evaluating a technology platform and scheduling the implementation among the exchanges. The e-trading link is expected to go live next year,” she added.
Singapore Exchange chief executive officer Hsieh Fu Hua said the five exchanges would work towards establishing their clearing houses as central counterparties to facilitate the clearing and settlement of cross-border trades.
“Brokers will benefit from building on their relationships with their home clearing houses and need not take on foreign counterparty risks,” he said.
Patareeya said the partnerships would be “a win-win solution for all” including the listed companies, investors and market participants.
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