SGX and NZ bourse sign cooperation deal

Last October, the Singapore Exchange inked an agreement with United States bourse Nasdaq, which will see the two facilitate a concurrent or sequential listing on both exchanges.
Last October, the Singapore Exchange inked an agreement with United States bourse Nasdaq, which will see the two facilitate a concurrent or sequential listing on both exchanges. PHOTO: ST FILE

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, as well as improving investor participation.

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 on areas of opportunities spanning both our securities and derivatives markets."

New Zealand Stock Exchange (NZX) chairman James Miller added: "As part of NZX's refreshed strategy, 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 that are committed to generating opportunities for investors and issuers in their respective markets... We look forward to working with SGX to keep growing our leadership role in the Asia-Pacific region."

Last October, the SGX inked an agreement with United States 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 year end. This will allow investors to trade and settle shares in both markets in a more convenient and cost-efficient way.

SGX shares closed down four cents to $7.44 yesterday.

A version of this article appeared in the print edition of The Straits Times on March 08, 2018, with the headline 'SGX and NZ bourse sign cooperation deal'. Print Edition | Subscribe