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ASEAN trading platform: Yet another delay

In Infrastructure on 05/07/2012 at 5:46 am

The launch of a proposed cross-border electronic trading link for South-east Asian stock exchanges has been delayed as the participating bourses are still testing the technology and driving investor awareness, according to a joint statement issued on Tuesday.

“The ASEAN Exchanges is currently in the midst of firming up the launch date of the ASEAN Trading Link that is ideal and amenable to the members of the ASEAN Exchanges and its stakeholders,” the statement from the exchanges in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam said.

The stock exchanges had signed a preliminary pact in February 2009 to develop cross-border trading links to cut costs and attract investment. The launch of the trading link – a common platform to enable cross-border order routing and trading across seven exchanges in the six countries – had initially been planned for last month, after it had been delayed from last year, if my memory is correct. 

In May, Bursa Malaysia Chief Executive Tajuddin Attan said the ASEAN link will begin with the stock exchanges in Malaysia and Singapore in July, with the Thai bourse joining in August.

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