lim hng kiang : the tokyo stock exchange and singapore speech by mr lim hng kiang, deputy chairman of the monetary authority of singapore and minister for trade and industry, at the tokyo stock exchange singapore representative office 10th anniversary, singapore, 14 december 2006. * * * congratulatory remarks i am delighted to be here with you this evening to celebrate the 10th anniversary of tokyo stock exchange singapore representative office. firstly, i would like to thank the tokyo stock exchange for its commitment to singapore and the region over the past decade and i hope tokyo stock exchange will continue to scale greater heights in coming years. growth of asia and japan when tokyo stock exchange established its overseas office in singapore in 1996, singapore and the region were experiencing strong economic growth with asian economies developing at rates of about 5 to 10 % per year. today, we continue to witness the rise of asia on the back of the twin drivers of china and india. prospects for south - east asia have improved considerably and japan, after years of stagnation, is firmly back on the track of healthy sustained growth and is a major investor in south - east asia. as of 2005, japan's fdi into south - east asia totaled $ 38 billion, and it is the top investor in indonesia, and the third largest investor in vietnam. changes in the global exchange landscape the competitive landscape in the global exchange arena has also changed significantly. equity and derivatives exchanges are consolidating globally in the bid to establish greater market share and to expand product offerings. the new york stock exchange - euronext cross - atlantic merger to create the first multi - time - zone exchange, and the recently announced merger between the chicago board of trade and the chicago mercantile exchange could lead to more centralized liquidity pool for derivatives trading in the us and europe. asian exchanges can do more - tse can take greater leading role the consolidation trend has yet to reach asia and asian exchanges may face the risk of marginalisation. in order to remain relevant, the asian exchanges may need to explore ways to deepen collaboration and product differentiation in the face of strong competition. in asia, the tokyo stock exchange is the largest stock exchange by market capitalization. since its establishment in 1878, it has grown to be the 2nd largest bourse globally, with a market capitalization of its listed companies exceeding us $ 4 trillion, second only to the new york stock exchange. it also registers high average daily trading volume for domestic equities of about us $ 19

external interface is quite layered, with a number of complicated and interwoven dimensions. as a result, concerted effort should be put into investigation and explanations of world events and the potential short and long term impact on the domestic economy. having done this, it would be important to ensure that as policies are developed there is regular and formal assessment of the second or third round feedback effects arising from external factors. finally, a strengthening of coordination among technicians, public policy makers and private sector agents would help to accelerate the extension of trinidad and tobago ’ s influence in economic matters at the regional and world levels. november 11, 2016 e - mail address : info @ central - bank or g. tt website : www. central - bank. org. tt