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Banking & Finance

26th ASEAN Exchanges CEOs meeting held

Released at: 15:16, 08/03/2017

26th ASEAN Exchanges CEOs meeting held

Photo: ASEAN CEOs meeting

Stock exchange CEOs meet in Bali and reaffirm collaboration in promoting ASEAN capital markets as an asset class.

by Doanh Doanh

ASEAN Exchanges convened this past weekend in Bali, Indonesia, for the 26th ASEAN Exchanges CEOs meeting, where they reaffirmed their collaboration in promoting ASEAN capital markets as an asset class.

The meeting is symbolic. as the seven ASEAN exchanges - Bursa Malaysia, the Hanoi Stock Exchange, the Ho Chi Minh City Stock Exchange, the Indonesia Stock Exchange, the Philippine Stock Exchange, the Stock Exchange of Thailand, and the Singapore Exchange - met six years ago in Bali to formally introduce the ASEAN Exchanges collaboration.

Mr. Tito Sulistio, Chairman of the 26th ASEAN Exchanges CEOs Meeting, said: “The ASEAN Exchanges collaboration has made great strides forward since it was formalized in 2011 to foster greater diversity, innovation and investment opportunities. Trade value, market cap, and trading interests have all trended positively upwards in the years since its inception. Product innovations were systematically introduced every year in an effort to grow trade value and the quality of the ASEAN capital market product.”

In the last 12 months, ASEAN Exchanges collaboration ushered in the introduction of the ASEAN 5 FTSE4Good ESG Index and new MSCI ASEAN centric indices.

Mr. Sulistio added: “Today, growth in the seven exchanges of ASEAN and ASEAN-based intermediaries has exceeded expectations, by expanding from market-centric, domestic institutions to large regional intermediaries with an ASEAN focus. Compared with 2011, domestic-based investment banks and equity houses today have 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 catalyze new methods of streamlining access to and within ASEAN and build greater cross border harmonization.

The ASEAN Exchanges collaboration will 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 reaffirmed the intention to continue to collaborate while focusing on harmonizing regulatory frameworks, facilitating the issuance of ASEAN products, the 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.

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