Brunei gets first securities exchange

Brunei licenses a new international securities exchange in its latest move to become an international financial centre.

The Ministry of Finance in Brunei has granted a license for the establishment of the country's first securities exchange. International Brunei Exchange IBX is a company registered in Brunei but is a wholly owned subsidiary of Nesdex, a Singaporean based company backed by Taiwanese money.

Nesdex is aiming to create an internationl securities market that enables the listing, trading, settlement and clearing of securities on the IBX. International investors will be able to access the system through a series of local portals called CityDEXes in the world's major financial centres.

According to the Nesdex website, Nesdex is creating a network of nodes, CitiDEXes, in each of the world's major financial...

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