SGX calls for Southeast Asia depositary

Singapore Exchange CEO promotes at Citigroup conference the idea of a Southeast Asia common clearing and settlement facility.

Hsieh Fu-Hua, CEO at Singapore Exchange, is proposing the stock exchanges in Southeast Asia jointly establish a clearing and depositary utility that can clear and settle trades within the region, to facilitate capital flows within the members of the Association of Southeast Asian Nations Asean.

He announced the SGX initiative at a conference organised by Citigroup in Singapore discussing integration in Southeast Asia, attended by senior officials from stock exchanges in Indonesia, Malaysia, the Philippines, Thailand and Vietnam. Citigroup...

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