After taking a professional turn in September this year, BSE Brokers’ Forum signed their first foreign Memorandum of Understanding with the Hong Kong Securities Association (HKSA) today.
The move is to establish channels for exchange of information, regarding the topics related to laws and regulations in securities industry, planning, development and operation of efficient securities industry practices and mechanisms, international clearance and settlement procedures, self-regulatory function, and investor education. Also, both the associations shall consider conducting business missions to respective countries.
Siddharth Shah, Chairman, BSE Brokers’ Forum expects this unique step to bring the Asian Broking Associations together for the growth of the overall securities markets. He adds, such tie up would highlight the concerns of the broking fraternity and would give a sound platform for solving their issues with the regulatory bodies and the stock exchanges.
Speaking during the occasion, Brian Fung, Chairman, HKSA said, “With the financial landscape being so complicated that we have never experience before, operating with best practice is the key to success and sustainability for the market and industry as a whole. I am glad that the Hong Kong Securities Association and BSE Brokers’ Forum can reach an MOU which will be a platform for both organizations and its members to share experiences, learn from others and explore opportunities.”
With this, both the associations will explore to conduct jointly training programmes for the development of the securities market in respective country for investor awareness in equity markets. The parties will also explore to conduct joint research in the area of securities market to strengthen the research base of their respective stock markets.
Vispi Rusi Bhathena, CEO, BSE Brokers’ Forum adds “Asia is the new growth engine of the world economy and I am sure that this strategic association would ensure several activities for the growth of the securities market and broking fraternity, in particular. This initiation would further strengthen the securities market in the Asian region. We are confident that the Forum along with HKSA would provide the right kind of platform for the securities market enhancement.”
