The launch of a proposed cross-border electronic trading link for Southeast Asian stock exchanges has been delayed as the participating exchanges are still testing the technology and driving investors awareness, according to a joint statement from the exchanges Tuesday.
“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 said.
The launch of the trading link had initially been planned for last month.
The stock exchanges of Malaysia, Indonesia, Singapore, Thailand, the Philippines, and Vietnam signed a preliminary pact in February 2009 to develop cross-border trading links to cut costs and attract investment.
The countries’ seven exchanges have a market capitalization of over $2 trillion, with Malaysia, Singapore and Thailand accounting for nearly two-thirds of the value.