Thai Bourse Announces the Success of ASEAN Broker Networking
The Stock Exchange of Thailand (SET) announces successful “ASEAN Broker Networking” in Phuket during July 28-29. The event was hosted by SET to promote cross-border partnership among ASEAN brokers, with altogether 62 brokers of the stock exchanges in Southeast Asia including Bursa Malaysia, Hanoi Stock Exchange, The Philippine Stock Exchange, The Singapore Exchange and SET.
During the event, the ASEAN Exchanges provided necessary information on the ASEAN link as well as market development of the exchanges to prepare the brokers to be ready to join and trade on the interconnectivity platform, which is expected to go live in the first quarter of 2012. Furthermore, the brokers were provided with opportunities to establish relationship among each other in the arranged one-on-one meetings. “This was another step forward after the four ASEAN members, namely Bursa Malaysia, The Philippine Stock Exchange, The Singapore Exchange and SET made progress in June by appointing a technology provider to set up a system for the trading link between the bourses, ASEAN link, which aims at promoting the growth of the ASEAN capital market and bringing more ASEAN investment opportunities to more people”, SET President
Charamporn Jotikasthira said.
The ASEAN link is initially a joint implementation among four ASEAN exchanges, namely Bursa Malaysia, The Philippine Stock Exchange Inc., Singapore Exchange and SET. The ASEAN link is a part of the ASEAN Exchanges collaboration among seven exchanges to promote ASEAN as an asset class. The seven exchanges include Bursa Malaysia, Hanoi Stock Exchange, Hochiminh Stock Exchange, Indonesia Stock Exchange, The Philippine Stock Exchange, The Singapore Exchange and SET.
The seven ASEAN Exchanges have a combined market capitalization of approximately USD1.8 trillion and more than 3,600 companies. Some of these companies are the largest and most dynamic companies in the world, including leaders in finance and banking, energy, telecommunications, commodities, automotive manufacturing
and other industrial sectors.