Securities brokers preparing for cross-trading on four ASEAN stock exchanges in 2012

A meeting of 62 securities brokers from stock exchanges in ASEAN member countries has fast-tracked co-operation agreements between firms as cross-trading between four ASEAN stock exchanges - the Stock Exchange of Thailand, Bursa Malaysia, the Philippines Stock Exchange (PSE) and the Singapore Stock Exchange - is scheduled to be operational in the first quarter of 2012.

“We gained valuable insights from the talks by various bourses, but the most interesting part of it all is meeting up with at least nine brokers interested in the Philippines, with two to three of them having immediate business potential," said Gonzalo OrdoƱez, president of First Metro Securities Brokerage Corp, and part of the PSE delegation to the meeting in Phuket, Thailand.

PSE president and CEO Hans B. Sicat said the brokers’ networking session “is another milestone for the ASEAN link coming shortly after its major accomplishment last June 2011 of appointing a technology provider to set up a system for the trading link between the bourses. The ASEAN link ultimately aims to promote the growth of the ASEAN capital market by ushering ASEAN investment opportunities to more people."