Solution provider for Asean trading network named

THE stock exchanges of Malaysia, the Philippines, Singapore and Thailand have appointed NYSE Technologies as a solution provider for the Asean Trading Link.

The Letter of Intent for NYSE Technologies to commence the design of the technology solution was signed at the 10th Asean Exchanges CEOs Meeting in Manila yesterday, said a joint statement issued by the four exchanges.

It quoted the Philippine Stock Exchange President and Chief Executive Officer Francisco Ed Lim as saying that the appointment of NYSE Technologies was a significant milestone towards realising the Exchange Alliance's strategic framework that supports the establishment of an integrated Asean capital market. "The Asean Trading Link will strenghten the competitiveness of the member exchanges and enable them to better serve their customers," he said.

The Trading Link will interconnect electronically the participating equities markets and help facilitate cross-border order routing and trading.

Investors and members of the participating Asean Exchanges will be able to trade multiple Asean markets from their domicile countries.

With this link, participating Asean Exchanges can connect to external order routing networks to attract new order flows into the Asean equities market.Bernama