The Philippine Stock Exchange, Inc. (PSE) hosted the 38th ASEAN Exchanges CEOs Meeting which focused on priority initiatives to further showcase the region’s unique investment qualities and create a unified ecosystem for sustainability solutions among listed companies and capital market stakeholders.
Promoting the ASEAN capital market, the group discussed activities that will continue to generate interest in investment products offered by the ASEAN Exchanges.
Following the signing of a Memorandum of Understanding (MOU) in November 2024 to collaborate on offering Depositary Receipts (DRs) on their respective exchanges, the ASEAN Exchanges discussed the performance of the ongoing DR collaboration between Singapore Exchange (SGX Group) and The Stock Exchange of Thailand (SET), and the steady progress of DR development in the other ASEAN markets. Since the launch of their DR programme in 2023, SGX Group and SET have listed a combined total of 17 DRs and have more than doubled the AUM of these DRs in the past one year. The initiative has also generated additional trading volumes for both exchanges, adding to liquidity in the underlying market.
Given the encouraging performance of Thai and Singapore DRs, the rest of the ASEAN Exchanges have been actively working on regulations towards introducing DRs in their respective markets. Bursa Malaysia (BM), Indonesia Stock Exchange (IDX), PSE, and Vietnam Exchange (VNX) are in various stages of regulatory framework development and stakeholder engagement in line with the DR MOU’s goal to enhance investment opportunities by way of cross-border products.
The ASEAN Exchanges also remained steadfast in their joint promotion efforts by maximizing the use of the ASEAN Exchanges common website and planning marketing events with key market participants. The website content development strategy has expanded the website’s reach to institutional investors, which resulted in doubling visitor activity on the site. The exchange leaders also plan to capitalize on the momentum of previous roadshows in New York, USA and Melbourne, Australia by potentially hosting the next ASEAN-themed roadshow in Hong Kong in the second half of the year.
On the sustainability front, following the November 2024 announcement, the ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE) Participating Exchanges issued a Request for Information (RFI) in February 2025, receiving strong industry interest. A joint briefing on the RFI by the ASEAN Exchanges last week saw participation from more than 120 representatives from 35 organizations, which included solution providers, credit bureaus, technology firms, information vendors, and consultants.
The RFI seeks market insights to develop a unified ASEAN regional ecosystem which includes:
1. Centralised Sustainability Data Infrastructure – Establish and harmonise a centralised yet inter-operable data infrastructure, aligning with national regulatory frameworks while ensuring seamless integration.
2. Digital Marketplace for Technology-based Sustainability Solutions – An open platform for technology-driven sustainability solutions to showcase their offerings, enabling over 4,000 public listed companies (PLCs) and their millions of suppliers to access plug-and-play or modular products, enhance reporting processes, and connect with solution providers across the region.
Submissions to the RFI close on 31 March 2025, 5:00 pm, GMT+8, and interested parties can respond to all or selected sections as applicable, either individually or as part of a consortium. For more information or to express interest, please contact isb@bursamalaysia.com.
