CSX-listed securities firms to link own trade platforms

CSX-listed securities firms to link own trade platforms

The Cambodia Securities Exchange (CSX) has announced plans for all market-listed securities firms to connect their own trading platforms to a synchronised market from next year, in a bid to improve integration of technological infrastructure and maintain international competitiveness.

CSX CEO Hong Sok Hour said that accessing the common free platform provided by the exchange ensures that customers can invest in the Cambodian securities market through a technological experience that is easy, fast, safe and cost-efficient.

“To meet the needs of investors as well as boost the competitiveness, potential and innovation of member companies and provide a richer and better service, the CSX plans to open up to all securities firms with the ability to develop a personal trading platform that can be connected to the CSX trading system from 2023 onwards,” he said.

Companies that do not have ability can continue to use the CSX platform until 2025.

Sok Hour added that the Mobile Trading System (MTS) and CSX Trade mobile app were launched to ease the burden of securities firms who are in the early stages of the market.

CSX Trade is an upgrade of the MTS, which is a web-based mobile app available on iOS and Android platforms.

Securities and Exchange Regulator of Cambodia (SERC) director-general Sou Socheat said that the MTS has been playing an important role in facilitating investors’ orders in the last five years.

Securities trading through the MTS accounted for 96 per cent of total orders in the exchange, while orders placed through agents and securities companies accounted for only four per cent.

He said that CSX Trade will fill these gaps and provide another opportunity for the Cambodian stock market.

“Digitalisation requires innovation, inclusion and high creation that market participants must dare to take as a first step. It may be on a small scale with a long-term vision, but should be one that responds quickly to market demand and can be expanded quickly,” Socheat said.

The CSX has a total market capitalisation of $2.43 billion. The total trading volume of the exchange increased by 386 per cent in 2021, with the daily trading volume increasing by 382 per cent compared to 2020.

As of end-February, the CSX had nine listed stocks – seven listed on the Main Board and two on the secondary Growth Board. Additionally, six companies have issued eight corporate bonds on the exchange. Phnom Penh Post