Singapore Exchange Ltd. said its trading link with other Southeast Asian bourses has ceased operations.
The exchange said in an Oct. 10 consultation paper that the ASEAN trading link was no longer in operation, effective Oct. 6.
ASEAN Exchanges, made up of a group of regional bourses, said the trading link was shuttered as trading turnover has grown since the introduction of the link, which has "created new and efficient methods of facilitating cross-border transactions," Bloomberg News reported Oct. 13.
The ASEAN trading link initially commenced operations in September 2012 with Singapore Exchange and Bursa Malaysia, and was later joined by the Stock Exchange of Thailand. The exchanges in Vietnam, the Philippines and Indonesia were expected to eventually take part in the trading link.