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ASEAN Exchanges Unveils Key Milestones In The Development Of The ASEAN Asset Class

Date 15/10/2012

Highlights:

  • ASEAN Exchanges unveils enhanced website showcasing ASEAN as an integrated asset class, providing aggregated ASEAN data and analytics in a single location.
  • USD 1.4 trillion virtual market created with The Stock Exchange of Thailand connecting with Bursa Malaysia and Singapore Exchange on the ASEAN Trading Link.

ASEAN Exchanges, a collaboration of the seven stock exchanges of ASEAN, today unveiled several key milestones in the development of the ASEAN asset class. The announcement was made by the seven CEOs of the ASEAN Exchanges at a press conference at the World Federation of Exchanges 52nd General Assembly and Annual Meeting today.

Ito Warsito, Chief Executive Officer, Indonesia Stock Exchange said, “ASEAN Exchanges has made significant progress in meeting several key milestones in our effort to promote the integration of the ASEAN capital market.

“We are focused on delivering on our four implementation pillars which are: driving cross border collaboration; streamlining access to ASEAN; creating ASEAN centric products and implementing targeted promotional initiatives”, continued Mr. Ito.

Speaking with one voice, the seven CEOs of the ASEAN Exchanges unveiled the newly enhanced ASEAN Exchanges website - www.aseanexchanges.org - that provides aggregated ASEAN market data and analytics in a single location. 

Dr. Tran Dac Sinh, Chairman of Hochiminh Stock Exchange, offered, “The newly enhanced website is a clear testament to the strength of the ASEAN Exchanges collaboration, which has set a strategy of working with best-in-class partners from around the world to raise the profile of the ASEAN asset class.”

Tran Van Dzung, Chief Executive Officer, Hanoi Stock Exchange agreed, saying, “With a collective market capitalisation of $2.0trillion, there are opportunities in our markets and, the exchanges of Vietnam, are actively collaborating with the 5 other exchanges and to build the ASEAN asset class and are eager to connect our markets when conditions permit.” 

Working with best-in-class partners is a key strategy of ASEAN Exchanges in delivering on the goal to create an ASEAN asset class. Continuing on the strength of their partnership with Thomson Reuters, a series of ASEAN-centric Reuters Instrument Codes or more widely known as RICs was developed.

The ASEAN Exchanges and FTSE partnership also delivered on a key milestone today with the unveiling of the FTSE/ASEAN Indices Weekly Report that will be available on the ASEAN Exchanges website.

The enhanced ASEAN Exchanges website features aggregated ASEAN content allowing investors to view the performance of the seven ASEAN exchanges individually as well as providing a single, integrated view of the ASEAN market. 

Hans B. Sicat, President and Chief Executive Officer, The Philippine Stock Exchange, “The ASEAN Exchanges website can do what geography cannot – let the world see the ASEAN capital market in a single page.”

The website is built around the ASEAN Stars, the 180 ASEAN blue-chip stocks which represent the 30 most exciting companies of each ASEAN country as ranked by investability in terms of market capitalisation and liquidity.

ASEAN Exchanges created history today when The Stock Exchange of Thailand became the third member to connect to the ASEAN Trading Link. Bursa Malaysia and Singapore Exchange were the first two member exchanges to connect on the ASEAN Trading Link last month.

At the launch, Charamporn Jotikasthira, President, The Stock Exchange of Thailand, shared what the launch means for the ASEAN capital market, stating:

“For the first time ever, with Bursa Malaysia, Singapore Exchange and now The Stock Exchange of Thailand connected, investors now have a single entry-point access to three of the largest equity markets of ASEAN. Together the three markets offer investors easier access to over 2,200 listed companies with a market capitalisation of USD1.4 trillion, which accounts for nearly 70% of the total market capitalisation of ASEAN.”

Tajuddin Atan, Chief Executive Officer, Bursa Malaysia also explained the significance of the ASEAN Trading Link: “It is no doubt that the ASEAN Trading Link is an excellent conduit to tap into the region’s growth opportunities, but its significance extends far beyond just a link that connects our Exchanges. Indeed, the greater significance lies in the power of networking engendered; the creation of a network of exchanges, brokers and investors across three of the largest markets in ASEAN.”

Magnus Bocker, Chief Executive Officer, Singapore Exchange, said, “Today, 31 Brokers from across Malaysia, Singapore and Thailand – including the 5 biggest regional brokers - are connected on the ASEAN Trading Link. These brokers can now offer investors   seamless access across the connected ASEAN markets. In time, this infrastructure could beget more liquidity, benefitting investors and markets of this region.”

Speaking at the ASEAN Exchanges press conference, Hüseyin Erkan, Secretary General of the World Federation of Exchanges, commended members of the ASEAN Exchanges on the successful rollout of the ASEAN Trading Link, saying, “The ASEAN Trading Link stands as a true testament of the strength and determination of the ASEAN Exchanges members to have accomplished this significant milestone. ASEAN Exchanges has set a new benchmark for exchange collaboration amidst a globally connected and competitive marketplace.”