SWIFT Institute reports progress on ASEAN Exchanges and capital markets integration
The SWIFT Institute has published research on the progress made by the Association of Southeast Asian Nations (ASEAN) in developing exchanges and growing the region's capital markets.
ASEAN is made up of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam and the ASEAN Exchanges initiative involves the collaboration of seven ASEAN-based exchanges.
The SWIFT Institute's research investigates the challenges surrounding the development of these exchanges and potential areas for future development. It found that there is significant disparity in how the ASEAN Exchanges manage regulation, daily operations and how they foster investor education. The report identified three pillars of success:
- regular engagement, but 'loose' organising structure;
- collective but 'non-imposing' governance; and
- gradual and incremental operating model.
Peter Ware, director of the SWIFT Institute, said in a statement: “Based on interviews with senior leaders at ASEAN Exchanges, this report gives a good background into the challenges and opportunities that are facing this region. Time, flexibility and continuous nurturing of shared commitment seem to be the key factors in sustaining the development of ASEAN Exchanges going forward.”
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