Vietnam’s Ho Chi Minh Stock Exchange (HSX) has joined the group of ASEAN countries that is exploring the creation of a cross-border electronic trading platform.
The existing five exchanges in the group – Bursa Malaysia, the Indonesia Stock Exchange, the Philippine Stock Exchange, Singapore Exchange and the Stock Exchange of Thailand – signed a memorandum of understanding with HSX at the 9th ASEAN Exchanges CEOs Meeting in Kuala Lumpur.
The electronic linkage will allow investors from each of the participant countries to access each other’s capital markets through a single point. The initiative also aims to establish an ASEAN Bulletin Board, which will display market data from each of the participating exchanges.
“We have always expressed our desire and willingness to join the linkage, and today, by signing this MoU, Ho Chi Minh Stock Exchange would like to commit itself more deeply and comprehensively to this project,” said Phan Thi Tuong Tam, senior deputy CEO, HSX. “Each ASEAN exchange has its own particular strength and through the linkage, they will have opportunities to develop these strengths.”
Dato’ Yusli Mohamed Yusoff, CEO of Bursa Malaysia, added that the cross-border trading initiative would benefit all ASEAN exchanges “by combining the respective markets’ economic and financial strengths.”
The original memorandum of understanding was signed in Bangkok by the initial five exchanges in February this year.