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Philippine Stock Exchange to Join Asean Link in ‘Early’ 2012

Philippine Stock Exchange Inc. said it plans to link up with equities markets in Malaysia, Thailand and Singapore by “early” 2012, President Hans Sicat said.

Indonesia and Vietnam will join the drive to link markets in the Association of Southeast Asian Nations, or Asean, after 2012, Sicat told reporters in Manila today.

“The game plan is that by year-end there’s a rudimentary trading system running with three participants” in the region, Sicat said. “All exchanges in Asean are working in fast- tracking this connectivity. This will help increase the flow of funds.”

Exchanges in Malaysia, Indonesia, Singapore, Thailand and the Philippines signed a preliminary agreement in February 2009 to develop cross-border trading links to trim costs and foster investment.

All companies listed on each of the bourses will be available for cross-border trading on the first day they are connected, Bursa Malaysia Bhd. Chief Executive Officer Yusli Mohamed Yusoff said separately today. Indonesia will join after 2012 because “it’s sorting out internal issues,” he said.

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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