MAS in the International Arena

Fostering Regional Capital Market Cooperation and Development

We continue to work closely with our regional counterparts in developing initiatives to enhance greater capital market development. MAS is an active participant in the ASEAN Linkages Task Force (LTF), comprising representatives from finance ministries, securities commissions and stock exchanges in ASEAN. The LTF, which was set up after the ASEAN Finance Ministers Meeting in Singapore in April 2004, is tasked with developing an interlinked ASEAN securities marketplace by 2010. The Task Force met in September 2004 and February 2005 to discuss various models of exchange alliances and linkages as well as their benefits and costs. It also looked at the impediments to these linkages amongst ASEAN securities markets. Singapore is currently the chair of the LTF.

Another regional capital market initiative which MAS participates actively in is the ASEAN 100 project, chaired by the Securities Commission of Malaysia. Also formed after the ASEAN Finance Ministers Meeting in Singapore in 2004, the project aims to form an ASEAN index featuring ASEAN’s top companies. The respective ASEAN securities exchanges are active participants in the project, with regulators such as MAS facilitating and enhancing their participation by seeking to harmonize regulatory standards and practices to make such an index possible.