The launch of a
proposed cross-border electronic trading link for South-east Asian stock
exchanges has been delayed as the participating bourses are still testing the
technology and driving investor awareness, according to a joint statement
yesterday.
"The ASEAN Exchanges is currently in the midst of
firming up the launch date of the ASEAN Trading Link that is ideal and amenable
to the members of the ASEAN Exchanges and its stakeholders," the statement
from the exchanges in Indonesia, Malaysia, the Philippines, Singapore, Thailand
and Vietnam said.
The stock exchanges had signed a preliminary pact in
February 2009 to develop cross-border trading links to cut costs and attract
investment. The launch of the trading link - a common platform to enable
cross-border order routing and trading across seven exchanges in the six
countries - had initially been planned for last month.
In May, Bursa Malaysia Chief Executive Tajuddin Attan
said the ASEAN link will begin with the stock exchanges in Malaysia and
Singapore, with the Thai bourse joining in August.
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