Singapore, Australian stock exchanges launch trading link.
The Singapore Exchange (SGX) and the Australian Stock Exchange (ASX) on Thursday launched a trading link which enables investors to directly buy and sell selected equities in each other's market through brokers.
The linkage, the first of its kind in global stock markets, follows the signing of an agreement between the two bourses in June last year to jointly design, develop and establish an active electronic link between their trading and settlement systems.
A total of 50 stocks from the SGX, such as Singapore Telecommunications and Singapore Airlines, and 51 stocks from the ASX, including Qantas Airways and News Corp., are offered for what is called ''co-trading.''
The SGX and the Tokyo Stock Exchange (TSE) are also in detailed discussions on the possibility of co-trading between the two exchanges.
Thomas Kloet, chief executive officer of the Singapore Exchange, said at a news conference Thursday, ''we are in detailed discussions with the Tokyo Stock Exchange. Whether that will follow the same model or not, we are not sure yet. We have signed an agreement to look at the feasibility.''
''Currently we are only in talks with Tokyo,'' Kloet said. ''Beyond the TSE, we would welcome a number of other exchanges who want to come into such a linkage...in the region and in Europe.''
Kloet said the new co-trading link with Australia is expected to be attractive not only for retail investors but also institutional investors.
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|Publication:||Asian Economic News|
|Date:||Dec 24, 2001|
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