In response to media reports, the ASX clarifies that while it is planning an expansion into South East Asia, it has not yet named a location.

The Australian Stock Exchange, the third largest listed exchange by market capitalisation in Asia, has confirmed plans to expand in the region, as part of its commitment to regional and global connectivity.

In an emailed response to WealthBriefingAsia on media reports about its plans to open in Singapore, the ASX downplayed the news and said that it is not being specific about the location or staffing numbers because it still is in the early planning stages. 

The determination to expand its presence, while not a direct wealth management story, highlights the continued vigour of the region's equity market; IPOs are significant liquidity events and closely watched by wealth managers, while added competition can curb costs. 

"[Our commitment] will seek to improve the proximity of ASX to its customers and enable us to tap into new opportunities. We have had representatives flying from Sydney throughout the region for many years," said a spokesperson from the Exchange. 

Media agencies had reported that the institution is eyeing Singapore for its next office, which will focus on derivatives products.