sgx-calls-for-southeast-asia-depositary

SGX calls for Southeast Asia depositary

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

By Jame DiBiasio

August 07, 2006

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 Corporate and Investment Banking hosted an event entitled Crossing Borders Towards an Integrated Asean Market, in Singapore on 19-20 July.

ôWe would like to see the establishment of a regional clearing and depositary utility, owned...

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