Asean Exchanges sees more new listed products

KUALA LUMPUR: The Asean Exchanges anticipates that the recent move by leading index provider, MSCI, to introduce new Asean tradable indices will create new listed products across the Asean exchanges.

In a statement, Asean Exchanges chairman at the 26th chief executive officers (CEOs) meeting in Bali, Indonesia, Tito Sulistio said the collaboration would continue to work with best in class partners from around the world to build greater liquidity among members in the region.

“The Asean Exchanges’ CEOs reaffirm the intention to continue to collaborate while focusing on harmonising regulatory frameworks, facilitating the issuance of Asean products, cross-exchange listing of Asean products and mutual recognition of capital market professionals.

“These initiatives will be profiled through Asean Exchanges-driven marketing platforms within Asean as well as outside,” said Sulistio.

He said growth of the seven exchanges of Asean and Aseanbased intermediaries today has exceeded expectations by expanding from market-centric, domestic institutions to large regional intermediaries with Asean focus.

Compared with 2011, he said, domestic-based investment banks and equity houses had successfully transformed from country leaders into regional Asean leaders, able to compete head on with some of the large global players.

“These institutions have defined efficient cross-border trade linkages within their own platforms and provided efficient inter-broker services to domestic-focused entities looking to expand their investments to Asean.

“Going forward, the collaboration will continue to introduce products and services to catalyse new methods of streamlining access to and within Asean and build greater cross-border harmonisation,” he said.

The meeting, which aims to promote the Asean capital market as an asset class, is symbolic as the seven Asean Exchanges – Bursa Malaysia, Hanoi Stock Exchange, Hochiminh Stock Exchange, Indonesia Stock Exchange, Philippine Stock Exchange, Stock Exchange of Thailand and Singapore Exchange – met six years ago in Bali to formally introduce the Asean Exchanges collaboration. — Bernama