- POSTED: 22 Aug 2014 20:36
- UPDATED: 22 Aug 2014 21:11
Speaking on behalf of ASEAN Exchanges - a collaboration of seven regional stock exchanges - Singapore Exchange CEO Magnus Bocker said "significant progress" has been made within a relatively short time.
SINGAPORE: ASEAN Exchanges, a collaboration of seven regional stock exchanges, says it is on track to create ASEAN as one asset class. The heads of the seven exchanges met in Singapore for the 21st ASEAN Exchanges CEOs meeting on Friday (Aug 22).
Speaking on behalf of ASEAN Exchanges, Mr Magnus Bocker, CEO of Singapore Exchange, said: "The collaborative action amongst the ASEAN Exchanges has been a vital force in moving things forward to achieve our goals, and this is most evident in the significant progress we have made over a relatively short period of time."
Since its launch in April 2011, the group has launched several initiatives, including the ASEAN Trading Link, which allows for cross-border transactions. In May, three new ASEAN indices were introduced with FTSE to provide more opportunities for investors and enhance liquidity among the exchanges.
Other key initiatives include the ASEAN Stars and the Invest ASEAN retail roadshows to profile the exciting companies listed on the seven exchanges in ASEAN to mainly retail investors.
ASEAN Exchanges is a collaboration of seven exchanges from Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. It aims to promote the growth of the ASEAN capital market by driving cross-border collaboration, streamlining access to ASEAN, creating ASEAN-centric products and implementing targeted promotional initiatives.
The seven exchanges have a combined market capitalisation of about US$2.9 trillion (S$3.6 trillion) and more than 3,600 companies listed on their exchanges.