ASEAN KEY DESTINATIONS
Malaysia and Thailand plan cross-trading
There is a new development in the stock exchanges of Asean countries as Malaysia and Thailand plan to start start cross-trading of shares by the end of 2011 as part of a plan to make Southeast Asian markets more accessible and spur trading, Bursa Malaysia Bhd. Chief Executive Officer Yusli Mohamed Yusoff said.
Singapore followed by the Philippines will be next to join the drive to link the Association of Southeast Asian Nations, or Asean, Yusli said yesterday.
Exchanges in Malaysia, Indonesia, Singapore, Thailand and the Philippines signed a preliminary agreement in February 2009 to develop cross-border trading links to trim costs and foster investment.
Indonesia and Vietnam will be linked up within two to three years, Yusli said.
“We don’t see the urgency of joining the Asean linkage at the moment,” Wan Wei Yiong, trading director at the Indonesia Stock Exchange said in an interview at the bourse in Jakarta. “After 2012, we’ll see how the Singapore, Thailand, Philippine and Malaysian bourses’ linkage runs. Then, we’ll join them if it benefits us.”
Undoubtedly, this linkage will be facilitated from the recent influx of dark pool electronic platform exchanges and aggregators into Asia. More extensive coverage of dark pools is upcoming in our next issue of Asean Affairs magazine
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below