Securities and Exchange Board of India has mooted increased cooperation among South Asian countries in the financial markets including cross-border listing of companies to develop regional financial system.
The listing agreements harmonisation would ensure that only quality issues by corporates hit the capital market and create environment where people feel comfortable to participate in markets, Sebi chairman G N Bajpai said addressing a meet organised on the eve of three-day conference of South Asian Federation of Exchanges.
The cross-border listing would help to benefit from capital market's ability for efficient allocation of resources, he added.
Referring to co-operation among the stock exchanges in the South Asia, Sebi chief said it was essential as they would find it difficult to function as standalone entities.
The harmonised disclosure standards, accounting and corporate governance norms could upgrade quality of trading environment and attractiveness of markets, he added.
Besides working together to develop skills and human resources, exchanges should create a formal structure for exchanging information at a fast speed, Bajpai added.
Indian securities market with electronic trading platform, short trading cycle and central counterparty for settlement of every trade on exchanges would act as a model for bourses of the region, he added.
