SunGard appointed tech provider for intra-ASEAN trading platform
Posted: 14 June 2011 2312 hrs
SINGAPORE : SunGard has been appointed as the technology provider for the intra-ASEAN cross-border order routing and trading platform that will integrate four exchanges in the region.
It is part of the ASEAN Exchanges Collaboration - that comprises Bursa Malaysia, the Philippine Stock Exchange, the Singapore Exchange and the Stock Exchange of Thailand, among others.
The consolidated trading platform will enable investors and broker members to access multiple markets via a single connection.
The platform is expected to go 'live' by the end of the first quarter of 2012.
CEO of Bursa Malaysia, Dato Tajuddin Atan, said the trading link is an important development in enabling ASEAN markets to create greater investment mobility.
Other industry experts said the trading platform would greatly facilitate global trades for retail investors seeking a bigger exposure in a fast growing ASEAN market.
However, some said that the technology alone is insufficient to make the project a success.
The ASEAN exchanges said they would work together on marketing initiatives to promote the ASEAN link and the ASEAN asset class.
- CNA/al
- wong chee tat :)
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