“Our agreement will bring issuers access to greater opportunity as well as drive the development of new products in high-demand areas such as ESG.”
The New York Stock Exchange and Singapore Exchange have signed a new agreement to collaborate on the dual listing of companies on both exchanges.
The partnership will also lead to a number of initiatives in other key areas focused on the capital markets, including ESG, index products, and ETFs.
Dual listings between the NYSE and SGX Group benefit issuers by allowing them to tap into pools of capital in key markets outside of their home regions. The agreement also allows the two exchanges to develop new products and services in support of their listed companies and investor communities, and coordinate compliance efforts for dual-listed companies.
In a virtual ceremony, NYSE President Lynn Martin and SGX Group Chief Executive Officer Loh Boon Chye signed a memorandum of understanding outlining the terms of the agreement.
Lynn Martin, President of NYSE, commented: “This collaboration between NYSE and SGX Group creates an important new connection between two of the world’s most exciting regions and two of its most innovative stock exchanges. Our agreement will bring issuers access to greater opportunity as well as drive the development of new products in high-demand areas such as ESG. We look forward to working together with SGX Group to further advance our global capital markets.”
Loh Boon Chye, CEO of SGX Group, said: “This agreement underscores SGX Group and NYSE’s joint interest in driving greater collaboration between the two exchanges. It aims to create a more connected ecosystem to facilitate access to capital and the development of new investment solutions to address growing complex needs of market participants and investors.”
The collaboration between the two exchanges focuses on the following areas:
- Dual listing of companies on SGX Group and NYSE
- Identifying and developing new ESG products and services
- Supporting index product development at SGX Group and NYSE affiliate ICE Data Indices
- Exploring new ETF products
NYSE Group’s equity exchanges include the New York Stock Exchange, NYSE American, NYSE Arca, NYSE Chicago and NYSE National. The group is a subsidiary of Intercontinental Exchange. NYSE Arca Options and NYSE Amex Options are equity options exchanges.
SGX is Asia’s most international multi-asset exchange, providing listing, trading, clearing, settlement, depository, and data services. The exchange is also the world’s most liquid international market for the benchmark equity indices of China, India, Japan, and ASEAN. SGX is a leading marketplace for global FX over-the-counter and futures participants.