The FINANCIAL — NYSE Technologies and four leading ASEAN equities exchanges-Bursa Malaysia (BM), the Philippine Stock Exchange (PSE), Singapore Exchange (SGX) and the Stock Exchange of Thailand (SET)-today during the 10th ASEAN Exchanges CEO's Meeting in Manila signed a Letter of Intent that designates NYSE Technologies as the solutions provider for the ASEAN Trading Link.
The award marks a significant first step towards the establishment of an integrated ASEAN Capital Market.
NYSE Technologies was selected after the exchanges conducted a rigorous process to determine the technology services provider best suited to work with the exchanges to design, build and manage the technology solution required for the ASEAN Trading Link.
Once complete, the ASEAN Trading Link will electronically interconnect the participating ASEAN exchanges to facilitate cross border order routing and trading, thereby allowing investors and members to access multiple ASEAN markets from their domicile country. This innovative trading network will enable participating ASEAN Exchanges to connect to external order routing networks in order to attract new order flows into the ASEAN equities market.
"My colleagues at NYSE Euronext and I greatly value the opportunity to provide our leading-edge technology and proven expertise to this historic initiative in an increasingly important part of the world," said Duncan L. Niederauer, Chief Executive Officer, NYSE Euronext. "The ASEAN Trading Link will strengthen the competitiveness of the member exchanges and enable them to better serve their customers. National and regional interest will be well served by giving investors greater access to global capital to facilitate new development, growth and wealth creation."
The Philippine Stock Exchange's President and Chief Executive Officer, Mr Francisco Edralin Lim described the appointment of NYSE Technologies as a significant milestone achieved towards realising the Exchange Alliance strategic framework that supports the establishment of an integrated ASEAN Capital Markets. "As the host of the 10th ASEAN Exchanges CEOs Meeting and on behalf of the participating Exchanges, I am pleased to announce the selection of NYSE Technologies as the vendor of choice for the ASEAN Trading Link," Mr. Lim said. "NYSE Technologies brings to the table vast experience in the Exchange solutions business and we are confident that they will deliver cutting edge solutions that meet all our requirements. We are also excited about the possibilities of leveraging their extensive order routing networks to bring order flow into the ASEAN markets."
The NYSE Technologies' ASEAN Trading Link Solution
Underpinning the NYSE Technologies' solution will be a resilient networking infrastructure that will interconnect the ASEAN member exchange's and, through the exchanges, their respective communities;
The solution will include services that leverage this network to provide integrated market data feeds from all the participating markets and a standardized entry point for trading;
State-of-the-art risk management and controls will ensure orderly and cost effective expansion of the ASEAN Trading Link markets;
The solution will integrate with the global SFTI community, giving NYSE Technologies' STFI members streamlined and cost effective access to trading in the ASEAN Trading Link markets.
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