New Zealand’s Exchange (NZX) and Singapore Exchange (SGX) announced that they have decided to expand co-operation in Asia-Pacific markets, signing a Memorandum of Understanding (MOU).
NZX Chairman James Miller commented:
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 who are committed to generating opportunities for investors and issuers in their respective markets.
This MOU represents a further step change for NZX, and we look forward to working with SGX to keep growing our leadership role in the Asia-Pacific region.
SGX Chairman Kwa Chong Seng added:
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.
Under the terms of the memorandum, NZX and SGX will promote market development initiatives across a range of areas including the promotion of derivatives products, dual and secondary listings, exchange traded funds and investor participation. The exchanges will also share relevant information as required and partner on green finance and sustainability initiatives.