ASEAN Trading Link exchanges appoint Deutsche Bank for custody and settlement

The CEOs of Southeast Asian stock exchanges, collaborating after the launch of the ASEAN Trading Link in 2012, have announced that they have hired Deutsche Bank to manage custody and settlement services.

The CEOs of Southeast Asian stock exchanges have announced that they have hired Deutsche Bank to manage custody and settlement services. Their collaboration is part of a joint effort to integrate ASEAN markets following the launch of the ASEAN Trading Link in September 2012.

A group of CEOs known as ‘ASEAN Exchanges’ consists of representatives from Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. The exchanges have a combined market capitalisation of approximately US$2.90 trillion and more than 3,600 listed companies.

The group recently met in Bali, Indonesia. The members aim to promote the growth of the ASEAN capital market by encouraging cross-border collaboration, and creating ASEAN products. They have said that they would continue to expend more efforts in improving post-trade services.

Tajuddin Atan, the CEO of Bursa Malaysia, said the appointment of a custody and settlement services provider was an important development, as the group could now provide streamlined and cost-effective post-trade procedures for cross-border transactions conducted via the ASEAN trading link.

 

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