Against the backdrop of the “much publicized consolidation in US and Europe”, Mr Hsieh commented that, “So far, consolidation has largely occurred in the trading arena. The posttrade environment has seen less action, perhaps because it poses greater challenges.” With the goal of lowering costs and increasing value to the customer, Mr Hsieh believes that “more attention should be focused on integrating clearing and settlement operations”. The objective of the utility is to provide clearing and custody facilities to ASEAN exchanges for cross border trading of ASEAN products by their respective brokers.
Mr Hsieh added, “As an initial step, we could promote integration through harmonising and aligning our market practices and standards with the international investment community.”
For the full speech, please click here.
