Singapore and New Zealand exchanges sign market agreement

SGX and NZX agree on cooperation for derivatives, dual and secondary listing, ETFs and investor participation.

Singapore Exchange (SGX) and New Zealand Exchange (NZX) have signed an agreement to expand their cooperation across markets in Asia-Pacific.

The memorandum of understanding (MOU) will see both exchanges promote market development initiatives for derivatives products, dual and secondary listings, exchange-traded funds (ETFs) and investor participation.

NZX chairman James Miller explained the agreement is part of the NZX’s move towards adopting a more global exchange model.

“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,” he said.

“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 has signed multiple MOU’s with various exchanges to facilitate cross-border trading activity, including agreements with major trading venues based in Taiwan, the UK, India and China.

“International collaborations will further SGX’s position as a leading global exchange and financial hub in Asia,” SGX chairman Kwa Chong Seng commented. “We are pleased to work with NZX on areas of opportunities spanning both our securities and derivatives markets.”