Harmonization and Standardization of Bond Market Infrastructures in ASEAN+3: ASEAN+3 Bond Market Forum Sub-Forum 2 Phase 3 Report

Publication | September 2015

Bond markets should be developed in line with a common understanding of what needs to be harmonized and integrated from the early stages of market development.

Price
  • US$28.00 (paperback)

ADB is working closely with the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China, Japan, and the Republic of Korea—collectively known as ASEAN+3—to develop local currency bond markets and facilitate regional bond market integration under the Asian Bond Markets Initiative in order to strengthen the resilience of the region’s financial systems.

This report is an outcome of Phase 3 discussions under the ASEAN+3 Bond Market Forum Sub-Forum 2, which have focused on making bond market infrastructures in the region more inter-operable through the harmonization of transaction flows, standardization of messaging items, and implementation of international standards. Most markets in the region will have commenced these harmonization and standardization efforts by 2020, thus taking a significant step toward the integration of ASEAN+3 bond markets.

Contents 

  • Executive Summary
  • Introduction
  • Harmonization of Message Flows
  • Standardization of Message Items Related to DVP Settlement
  • ISO 20022 Standardization
  • International Securities Identification Number
  • Collateral and Repo Services
  • Updating the Status of Settlement Barriers
  • Policy Recommendations
  • Roadmap Including Next Steps
  • Appendixes
     

Additional Details

Type
Subjects
  • Finance sector development
  • Finance sector reform
  • Financial markets and institutions
  • Regional cooperation and integration
Pages
  • 128
Dimensions
  • 8.5 x 11
SKU
  • RPT157593-2
ISBN
  • 978-92-9257-081-1 (Print)
  • 978-92-9257-082-8 (e-ISBN)

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