S'pore, NZ stock exchanges sign deal to expand collaboration
The Singapore and New Zealand stock exchanges have signed an agreement to expand cooperation in the Asia-Pacific region, the Singapore Exchange (SGX) said yesterday.
The bourses will join forces on initiatives such as promoting derivatives products, dual and secondary listings and exchange-traded funds. The memorandum of understanding will also involve the exchanges partnering on green finance and sustainability initiatives.
SGX chairman Kwa Chong Seng said: "International collaborations will further SGX's position as a leading global exchange and financial hub in Asia. We are pleased to work with NZX (New Zealand Stock Exchange) on areas of opportunities spanning both our securities and derivatives markets."
NZX chairman James Miller said: "...We made a strategic decision to shift our focus away from the regional stock exchange model, instead focusing on creating strong partnerships with global exchanges who are committed to generating opportunities for investors and issuers in their respective markets."
Last October, the SGX inked an agreement with US bourse Nasdaq, which will see the two facilitate a concurrent or sequential listing on both exchanges.
The Monetary Authority of Singapore and the Securities Commission Malaysia signed agreements last month to work together with their respective exchanges to establish a trading link by the end of this year. - THE STRAITS TIMES